ISLAMABAD – Pakistan State Oil (PSO) and Sui Northern Gas Company (SSGC) were authorized to determine the prices of national liquefied petroleum gas (LPG) instead of Oil and Gas Regulator Authority (OGRA) in the process, the latest reports suggested on Tuesday.
Prime Minister Shehbaz Sharif has given the authorization to Pakistan State Oil (PSO) and Sui Southern Gas Company (SSGC) in this regard.
The move is aimed at bringing down the cost of LPG across the country.
On the prime minister’s instructions, Federal Minister for Petroleum Ali Pervaiz Malik has granted PSO and SSGC exclusive authority to determine LPG prices nationwide, shifting the responsibility from OGRA to the two state-owned entities.
The decision comes amid concerns over rising LPG prices and difficulties faced by consumers in obtaining the fuel at officially notified rates, particularly as demand increases with the onset of winter.
In a related development, import orders for LPG consignments have been placed, with shipments expected to arrive in Pakistan next week. The additional supplies are expected to improve availability in the domestic market and help ease pressure on prices.
The government is hopeful that the arrival of imported LPG, coupled with the new pricing arrangement, will lead to a significant reduction in prices across the country.
The move is also expected to address supply-related concerns and provide relief to households that rely on LPG for cooking and other domestic requirements, particularly in areas where natural gas is unavailable or its supply remains limited.
However, the extent of the expected price reduction will depend on the volume of imported supplies, market conditions and the implementation of the revised pricing mechanism.
The government is banking on increased availability and the new arrangement to stabilise the LPG market and ensure consumers receive the commodity at more affordable rates.
The reports suggested that the further details about the implementation of the new pricing mechanism and the revised rates are expected to emerge following the arrival of the imported consignments.
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