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Rs250/kg from Rs95: Ogra warns LPG companies against artificial hike; 17 fined

Rs250/kg from Rs95: Ogra warns LPG companies against artificial hike; 17 fined

ISLAMABAD: With the view to rein in the profiteers exploiting sudden increase, ie Rs250 per kg from Rs95, in demand for poor men’s fuel, the Oil and Gas Regulatory Authority (Ogra) has asked the liquefied petroleum gas (LPG) marketing companies to adhere to their license conditions and make their dealers and distributors to follow the procedures and price notifications.

The Ogra warned of taking stern action against the company or its distributor indulging in artificial hike and profiteering.

The authority also directed marketing companies to publish their respective prices for convenience of the general public.

The Ogra issued the directives in a meeting with representatives of the LPG marketing companies which was convened following abrupt hike in the prices of LPG.

On the occasion, representatives of the LPG marketing companies briefed the meeting that sudden increase in the demand was typical of the winter season, which was exploited by certain profiteers.

The Ogra warned that profiteers would be dealt with sternly and could even resort to cancellation of licence of the company involved in profiteering and artificial hike in price of LPG. The authority also told the companies to increase their sale-points or certified distributors to facilitate the end-users. The authority directed both the LPG companies and the local administration to take action against the decanting (illegal refilling of cylinders). The authority has already fined at least 17 LPG marketing companies. A spokesman of the authority said that certain inspection teams were still out in the field that could pay any surprise visit to some LPG marketing company or its distributor whether a complaint or otherwise.

Meanwhile, a spokesman for the authority said that the Ogra could not determine the price of the LPG as it is the deregulated business but the companies are supposed to notify their respective reasonable price and distributors are supposed to follow that.