Finance Minster Constitutes Committee To Resolve CNG Sector Issues
Mohammad Ali (@ChaudhryMAli88) Published September 27, 2021 | 11:22 PM
Federal Minister for Finance and Revenue, Shaukat Tarin on Monday constituted a committee to workout options for optimal solution of issues faced by compressed natural gas (CNG) sector of the country
ISLAMABAD, (UrduPoint / Pakistan Point News - 27th Sep, 2021 ) :Federal Minister for Finance and Revenue, Shaukat Tarin on Monday constituted a committee to workout options for optimal solution of issues faced by compressed natural gas (CNG) sector of the country.
The minister was talking to a delegation of All Pakistan CNG Association, led by Chairman Khalid Latif, according to press statement issued by the Finance Ministry here.
The committee would be comprising of Chairman Federal board of Revenue (FBR), Chairman Oil and Gas Regulatory Authority (OGRA), representatives of Petroleum Division and Chairman All Pakistan CNG Association.
The minister said that the Covid-19 pandemic affected the international prices of petroleum products including LNG due to supply side disruptions.
He said that the government sustained the pressure and provided maximum relief to the consumers by keeping petroleum levy at the minimum.
Earlier, Khalid Latif briefing the finance minster about the operations of CNG sector informed that CNG was launched in Pakistan as an environment friendly and alternate fuel with a Primary objective to curtail costly import of petrol.
Overall investment in the CNG sector is around Rs. 450 billion in last 15 years, he said.
He also underlined the challenges being faced by the CNG sector, at present, due to massive fluctuations in the international prices of LNG along with depreciation in Pak rupees which has made CNG relatively expensive as compared to petrol in the domestic markets.
The surge in the prices of CNG undermined its attraction as a fuel of choice for the local consumers.
The Chairman also presented a comparative analysis between retail prices of CNG and petrol on the occasion.
Among others, Chairman FBR, Muhammad Ashfaq Ahmed, Chairman OGRA, Mansoor Khan, senior officers from the Petroleum Division and representative of FPCCI also attended the meeting.
Related Topics
Recent Stories
Saka and Odegaard start for Arsenal, Guerreiro in Bayern midfield
Qatar PM says re-evaluating Israel-Hamas mediation role
Govt spokesperson terms allegations of PTI's Marwat against Saudi Arabia 'heinou ..
Minister appreciate UAE’s support for Pakistan economic challenges
Manchester City v Real Madrid Champions League starting line-ups
MIGA's support Pakistan in attracting foreign investments: Federal Minister for ..
Walker returns to captain Man City for Real Madrid clash
Action taken against price list violations in Khanewal district
DC chairs review meeting of DEG
Turkey accuses Israel's Netanyahu of using war 'to stay in power'
Pakistan ranked 5th most vulnerable country to climate change. Tirmizi
Nadal comeback ends in Barcelona Open second round
More Stories From Business
-
Minister appreciate UAE’s support for Pakistan economic challenges
5 hours ago -
MIGA's support Pakistan in attracting foreign investments: Federal Minister for Finance, Muhammad Au ..
5 hours ago -
International financial partners to invest $1.8 bln in KP: Advisor
6 hours ago -
Uzbek envoy invites FPCCI leadership to attend Tashkent Int'l Investment forum
8 hours ago -
Women development imperative for sustainable economic prosperity: Lansana Wonneh
8 hours ago -
Finance Minister, highlights geo-economic fragmentation, its impact on Pakistan
8 hours ago
-
High Tobacco tax prevails over propaganda, reduces cigarette consumption
9 hours ago -
SECP grants registration to first digital insurer
9 hours ago -
European stock markets rebound after heavy losses
9 hours ago -
SECP files complaint against two individuals on violation of trading
9 hours ago -
Govt prioritize to peruse economic reform agenda for sustainable economic development: Minister
9 hours ago -
IMF says global debt levels face 'Great Election Year' risk
10 hours ago