LAHORE - Jamshoro Joint Venture Limited (JJVL), the LPG producer, on Friday announced the 15 per cent reduction in its LPG price from Nov 3. The announcement was made by JJVL Director Fasih Ahmed at a press briefing here Friday. He said the reduction would certainly have a gradual downward impact on retail prices across the country. The JJVL's ex-plant price, at which LPG Marketing Companies procure product, shall be Rs 46,512 per metric tonne (inclusive of taxes) during November against the October's price of Rs 54,485 per MT. "This translates into a price of Rs 547 per 11.8kg cylinder or Rs 46.37 per kilogram. While the cylinder price was Rs 641 and per kilogram price was Rs 54.32 during October," he added. The price revision will come into effect on Monday, November 3, while end-consumer LPG prices will be determined by the market, he said. "JJVL has imported 5,000 metric tonnes of product this year and may import additional cargoes to ensure price stability during winter," he added. He hoped that other LPG producers will also follow the suite to help ensure availability of affordable product across Pakistan. Ahmed also announced that JJVL is donating Rs one million and other relief items for victims of recent earthquake in Balochistan. JJVL meets the energy requirements of about 500,000 households throughout Pakistan and represents an investment of $ 100 million in Pakistan's LPG sector. JJVL is a finalist for the Rising Star Award at the 2008 Platts Global Energy Awards being held in New York in December 2008.