Closure of CNG Stations to further increase gas price and circular debt: Ghiyas Paracha

News Image

By MG News | December 20, 2019 at 04:26 PM GMT+05:00

0:00

December 20, 2019: "It will result in increase of smog in cities, CNG Closure in Sindh is unfair. In Punjab CNG Stations have deposited Billions as advance for the import of LNG." says Ghiyas Paracha.

Senior leader and Central Chairman of All Pakistan CNG Association Mr. Ghiyas Paracha has expressed his concerns that closure of CNG Stations will lead to further increase in Gas Prices as expensive LNG is being provided to the low tariff sector, this will lead to the closure of business and unemployment leading to unrest in the country.

Mr Paracha emphasized that CNG Stations give up cheap local gas and switched over to expensive RLNG as they were assured continuity of the supplies, the 1100 CNG Owners deposited Rs. 12 Lakhs per station as advance payment in order to ensure the continuous supply of gas but after depositing Billions in the Government kitty, the CNG Sector has been once again deprived of the imported gas whereas the same gas is being provided to the low tariff sectors. While CNG closure in Sindh is totally unfair as they are operating on local gas which is a provincial resource. 

This will lead to a further increase in gas prices and the circular debt. This vicious circle forces the government to increase the gas rates for the next 6 months and the general masses have to pay the price of unemployment and other consequences.

Transport fares will rise up ultimately. So it will add to the miseries of masses, transporters and owners of CNG filling stations, said Central Chairman of APCNGA.

He added that this will also negate the Prime Minister initiative for the control of Smog in urban areas.

Press Release

Related News

Name Price/Vol %Chg/NChg
KSE100 131,949.07
198.95M
0.97%
1262.41
ALLSHR 82,069.26
730.83M
0.94%
764.01
KSE30 40,387.76
80.88M
1.11%
442.31
KMI30 191,376.82
77.76M
0.36%
678.77
KMIALLSHR 55,193.97
350.11M
0.22%
119.82
BKTi 35,828.25
28.42M
3.64%
1259.85
OGTi 28,446.34
6.84M
-1.02%
-293.01
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,125.00 110,525.00
107,865.00
-2290.00
-2.07%
BRENT CRUDE 68.51 68.89
67.75
-0.29
-0.42%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 106.00 106.00
105.85
-2.20
-2.03%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.50 67.18
66.04
-0.50
-0.75%
SUGAR #11 WORLD 16.37 16.40
15.44
0.79
5.07%

Chart of the Day


Latest News
July 05, 2025 at 11:58 PM GMT+05:00

Weekly Market Roundup


July 05, 2025 at 02:57 PM GMT+05:00

National Savings Schemes see over Rs27bn inflow in May


July 04, 2025 at 10:16 PM GMT+05:00

CAT upholds CCP’s ruling against PREMA Milk


July 04, 2025 at 10:07 PM GMT+05:00

Gold price in Pakistan falls Rs1,500 per tola


July 04, 2025 at 08:01 PM GMT+05:00

TRG in Supreme Court



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg