ISLAMABAD: All Pakistan CNG Association (APCNGA) Tuesday lauded the government decision to deregulate prices of compressed natural gas (CNG) countrywide, terming it a great step towards revival of Rs 450 billion industry.
According to a statement issued here, the APCNGA chairman Ghiyas Abdullah Paracha said the government recently approved the deregulation of the CNG prices for Sindh and Khyber Pakhtunkhwa provinces on the pattern of Punjab.
"It has ended the role of Oil and Gas Regulatory Authority (OGRA) in determining prices leaving pricing issue to the market forces following the suit of Punjab where the prices had already been deregulated," he said.
Paracha said the decision would pave the way for healthy competition among the owners of the CNG filling stations, which would benefit consumers and attract more investment in the ailing sector.
He said the decision would resolve several outstanding issues of the CNG industry as the owners of CNG outlets would be free to fix price of the fuel.
"This will also have a positive impact on the litigants who are in courts for last four years as a good number of cases will be disposed of automatically," he added.
With government's effective policies, the APCNGA chairman said, the CNG sector would be able to serve the masses round the clock, adding that the revival of the CNG sector would also help to reduce pollution in urban areas of the country.
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