LPG price reduced

LAHORE: Marketing companies reduced on Sunday price of Liquefied Petroleum Gas (LPG) by Rs25 per kg, decreasing the price of domestic cylinder by Rs300 and commercial cylinder by Rs1,200.

After the price cut was announced, the LPG distributors’ association withdrew its decision to observe a strike on Monday.

According to the association, the companies reduced prices after immense pubic pressure and heavy fines imposed on them by the Oil and Gas Regulatory Authority.

“Ogra has assured us that it will continue its crackdown against the companies for raising LPG prices on their own,” association chief Irfan Khokhar said in a statement on Sunday.

“It [Ogra] has also imposed a fine of Rs500,000 on several companies. That’s why we have withdrawn our decision to observe the strike on Monday,” he added.

Mr Khokhar said that LPG prices should be Rs100 per kg maximum. He said Ogra had also assured the association of accepting its demands soon.