KARACHI: Marketing companies of liquefied petroleum gas (LPG) have reduced prices by Rs 3 to Rs 3.5 per kilo due to shrinking sale of LPG in the country.

 This was stated by the patron -in-chief of All Pakistan LPG Distributors Association and chairman FPCCI Standing Committee on LPG Abdul Hadi Khan here Tuesday.

 He said that after this decrease, LPG will be sold at Rs 114-115 per kilo in Karachi, Lahore, Sindh and Punjab, Rs 116-117 per kilo in Khyber- Pakhtunkhwa and Peshawar, and Rs 122-123 per kilo in northern areas, FATA, Batgram and AJK.

 Similarly, the price of 11.8 kg cylinder has been reduced by Rs 30-40 to Rs 1230-1240 in Karachi, Sindh, Lahore and Punjab, Rs 1260- 1270 in Khyber- Pakhtunkhwa and Peshawar, and Rs 1310 in northern areas, FATA, Batgram and AJK.

 Price of 45.4 kg cylinder has been decreased by Rs 160 to 4,756 in Karachi, Sindh, Lahore and Punjab, Rs 4,893 in Khyber- Pakhtunkhwa and Peshawar, and Rs 5,302 in northern areas, FATA, Batgram and AJK.

 Welcoming the decision of marketing companies in the scenario of energy crisis and sky rocketing prices, he also urged local LPG producers to also reduce their prices so that its sales are stabilised.

 Hadi pointed out that LPG sale was still restricted to 40 to 50 percent due to high prices and LPG distribution business has become less attractive.

 He said that international prices of LPG have been reduced after a long time and local consumers who had abandoned LPG use must get the benefit of this decline.

 He also underlined the need for increase in local LPG production which has been stagnant at 900 to 1100 tons per day.

 Hadi said LPG sale can be increased in the backdrop of rising prices of petrol, CNG and diesel, if an effective and integrated strategy of all stakeholders is developed while a further reduction in LPG price is needed for the desired results, he added.-Reuters