MoP&NR lays bare LPG cos cartelization

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GMT - 3 Hours MoP&NR lays bare LPG cos cartelization

Post by yaad on Wed Sep 21, 2011 9:37 pm

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ISLAMABAD: Ministry of Petroleum and Natural Resources (MoP&NR) on Saturday clarified that claims made by Liquid Petroleum Gas (LPG) association are not based on facts.

"It is the reaction of those who have thrived on LPG quota system thereby fleecing the general public by charging very high prices", said a statement issued by MoP&NR, here.

In fact the group has not let the competition in the business grow which has resulted in cartelization.

As a matter of fact, by mere announcement of the new LPG policy by Government, the prices of household cylinder dropped by 56 rupees per cylinder, it said.

The new LPG policy is based on the principle of parity of price for local and imported LPG. This has taken away the market manipulation power of local LPG mafia.

The ultimate benefit of this price parity will go to general public who will not become the hostage to the monopoly of local LPG mafia.

Companies with import-based business will be competitive thus saving the general public from clutches of LPG cartels, the statement added.

Government has intervened at a right time to takeover Pro-Gas terminal and has saved it from falling into the hands of a particular group.

With the given gas shortage issues, government is striving to promote LPG as an alternate fuel and this can best be achieved through extensive network of Sui Southern Gas Company Limited and Sui Northern Gas Petroleum Limited.

LPG business will be run by subsidiary of these companies on professional lines. It is hoped that these steps will further curtail the manipulation power of LPG mafia. (APP)

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