KARACHI - Federal Minister for Petroleum and Natural Resources Naveed Qamar has said the government will earn Rs 16 billion from the deregulation of Inland Freight Equalization Margin (IFEM). He was addressing a luncheon reception hosted by Pakistan Petroleum Dealers Association and CNG Dealers Association at Karachi Gymkhana here on Monday. Qamar said that there will be no more effects on prices after the imposition of Federal Excise Duty and the government will be able to save around Rs 16 billion from the deregulation of IFEM whom summary will be presented tomorrow. We are approximately going towards the deregulation of IFEM due to which some will bear loss and some will be benefited and small OMCs will have to change their set-up while the FED on gas will not affect on price he added. He said that through the Gas Development Surcharge a relief was given due to which a loss was generating so to maintain the balance the changes were made in FED. The gas companies are being penalized and we are putting pressure on them to make the stoppage of theft possible. We are also focusing on other fuels as we are going to announce Tight Gas policy. We have completed all the process of Iran gas pipeline project and the LNG project will also be appeared soon. The duty has been removed on LPG buses so that the fuel could be consumed in the public sector, Qamar further added.