CNG stations to remain closed for indefinite period

MG News | May 16, 2022 at 04:01 PM GMT+05:00

0:00

May 16, 2022 (MLN): The All-Pakistan CNG Association has announced that CNG stations will remain closed for an indefinite period.

After a hike of Rs70, the price of CNG in Pakistan has reached a new high of Rs300 per kilogram which is difficult for association to sell at this price.

In a statement, CNG Dealers Association Chairman Abdul Sami Khan said that the price of Re-Gasified Liquefied Natural Gas (RLNG) has also been increased without any consultation. Expressing concerns over the price hike, the chairman said that investments worth billions are being wasted in the CNG sector, as per news report.

He added that CNG was considered a cheap fuel but a massive increase would reduce its demand.

The Chairman demanded that the government should provide RLNG to the CNG sector at subsidized rates, otherwise, it should completely end the CNG sector.

The distribution losses for Sui Southern Gas Company (SSGC) have been enhanced to 18 percent. Similarly, distribution losses are 8 percent for the Sui Northern Gas Pipeline Ltd (SNGPL).

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	170,447.30 475.39M	-0.17% -294.05
ALLSHR	102,982.88 1,173.30M	-0.19% -193.32
KSE30	51,831.63 203.62M	-0.19% -100.47
KMI30	244,113.60 135.80M	-0.60% -1472.20
KMIALLSHR	67,176.62 604.35M	-0.53% -355.23
BKTi	46,076.74 115.84M	0.89% 404.61
OGTi	33,962.36 11.67M	-1.09% -374.70

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	87,210.00	87,410.00 85,365.00	1225.00 1.42%
BRENT CRUDE	59.59	60.40 59.42	-0.97 -1.60%
RICHARDS BAY COAL MONTHLY	91.00	0.00 0.00	1.15 1.28%
ROTTERDAM COAL MONTHLY	95.75	0.00 0.00	-0.15 -0.16%
USD RBD PALM OLEIN	1,016.00	1,016.00 1,016.00	0.00 0.00%
CRUDE OIL - WTI	55.84	56.70 55.69	-0.98 -1.72%
SUGAR #11 WORLD	14.99	15.03 14.86	0.04 0.27%