ISLAMABAD: During the hearing of CNG pricing case Supreme court of Pakistan has rejected the old plan and directed OGRA to prepare a new one, reported Aaj news on Friday.
The SC in its verdict said that the price of CNG was not in accordance with the law and ordered Oil and Gas regulatory Authority (OGRA) to set the new prices of CNG soon.
According to the verdict, the apex court has declared the old pricing formula null and void saying that, the price of per kilo of CNG increased from Rs 33 in 2008 to Rs 95 in 2012, adding that pricing structure of CNG included exorbitant additional charges.
Admonishing the Ogra, the bench said majority of the CNG station owners were not observing the terms and conditions of their licenses issued by the Authority.
However, Sindh CNG Association’s lawyer Wasim Sajjad contended that a crisis had erupted after the Supreme Court directive to slash CNG per kg price on October 25. He prayed the bench to direct Ogra to set the CNG price @ Rs 73 per kg, saying all CNG stations would open up after the confirmation of such a rate by the Ogra.
‘New plan within 48hrs: Chairman OGRA’
Following the verdict, Chairman Ogra, Saeed Ahmed Khan said that the detailed verdict of of the Supreme Court ruling was not issued adding that the regulatory body would decide on the new CNG prices soon and an announcement in this regards would be made within 48 hours.
On Thursday, The court had reserved its verdict until today.