ISLAMABAD: The Ministry of Petroleum and Natural Resources has deregulated the price of Compressed Natural Gas (CNG) in the province of Sindh and Khyber Pakhtunkhwa.
Now CNG station owners will have the authority to set prices and profits without any government regulation.
The Oil and Gas Regulatory Authority (Ogra) will no longer have the authority to regulate CNG prices, but retains the right to regulate price of petroleum products and taxation.
The Ministry of Petroleum will make amendments to the Ogra Ordinance 2002 to implement the decision.
The All Pakistan CNG Association has welcomed the decision and said that it will provide new lease of life to the dying sector, and will also solve the problem of the unavailability of CNG.
CNG will also sold by the litre rather than kilogramme. The price of CNG had already been deregulated in Punjab.