Business

Government hikes CNG prices

ISLAMABAD: Government itself spoiled their efforts of providing relief to the public in the Holy month of Ramazan by increasing the prices of Compressed Natural Gas (CNG).

Oil and Gas Regulatory Authority (OGRA) on Tuesday issued a notice for the hike in CNG rates. According to OGRA notice, the CNG prices for Region 1, which includes Islamabad, Potohar, Khyber Pakhtunkhwa and Balochistan, were raised by Rs.2.10 per kilogram to Rs.76.35.

Meanwhile, for Region 2, which consists of Sindh and Punjab excluding Potohar, the price of CNG has been hiked by Rs.5.36 a kilo to Rs.71.50.

The prices of  CNG were raised in the wake of increase in Gas Infrastructure Tax. As government has raised the Gas Infrastructure Development Cess (GIDC) rate from Rs. 100 to Rs. 200 for the fiscal budget 2014-15 and the tax imposed on CNG sector will be bear by public.

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