Ogra sends new CNG pricing formula to ECC

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Islamabad: Two days after the Supreme Court of Pakistan’s orders the Oil and Gas regulatory Authority (Ogra) on Sunday sent Compressed Natural Gas (CNG) pricing formula to the Economic Coordination Committee (ECC), Geo News reported.

“According to new formula Rs72.20 per kg and Rs63.76 per kg price of the commodity has been proposed in region–I and II respectively,” Chairman Ogra Saeed Ahmed told a private news television.

He said that the Ogra had written a letter to secretary petroleum Dr Waqar Masood on Friday for convening meeting of Farooq H Naek committee, adding the secretary wrote to the committee.

“The new formula has been sent to ECC and the decision on the price would be made in the committee, constituted by ECC,” Geo News reports.

The country apex court on Friday in its verdict over the CNG prices case declared the Ogra pricing formula void and ordered it to set new formula for the prices.

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