ISLAMABAD  -  Both the government owned PSO and SSGCL has shown their inability to import the LPG as prescribed in the LPG Policy 2016; it is learnt reliably here Wednesday.

A refusal from both the PSO and SSGCL came in a meeting of the LPG stakeholders held here, to review the LPG prices, in the Petroleum Division with Secretary Petroleum Mian Asad Hayaud Din here. The meeting was attended by officials of PSO, PPL, Parco, OGDCL, SSGCL and LPG association.

After the refusal of state owned companies to import LPG the government has decided to review the LPG policy 2016 and has asked the stakeholders to provide their recommendations within next 48 hours.

During the meeting LPG import by the state owned oil and gas companies, as prescribed in LPG policy 2016, was discussed. However, both PSO and SSGCL was of the view that the LPG import is a lengthy process which needs Board approval, following PPRA rules and other rules and regulations, official source privy to the meeting told The Nation. Besides, fluctuation in LPG market will also cause financial lose as they will buy expensive LPG and in case the price go down they will be in trouble. Therefore the state-owned companies refused to be in the LPG import business, the source said.

The LPG Policy 2016 has clearly stated that  "The federal government will from time to time in consultation with OGRA and relevant stakeholders, determine the quantity of LPG to be imported to meet any gap between demand and supply, this quantity will be imported by Public Sector companies,". However so far the government has failed to execute the LPG policy and is importing LPG through private companies which have increased the prices by almost 100 percent during past one month.

The government also asked OGRA to provide the audit report of the Gas producers and marketing companies within three months.

During the meeting Chairman LPG Association asked the government to take strict action against those companies responsible for the price hike in LPG.Action is required against those local companies who are selling LPG expensive than the imported one and their license should be cancelled,he added.The LPG association also demanded of the government LPG establish LPG laboratory on Taftan border which will to stop the import of substandard LPG.

He said that the government step can bring down the prices of LPG by Rs 20 per KG. It is pertinent to mention here that the LPG prices were doubled in the country during past one month. Recently LPG mafia increased LPG price for 4th time which has reached to record increase in consumer prices and prices have reached to 210 per kg in Gilgit Baltistan & other northern areas, Rs190 in AJK, Nathiagali etc, Rs170 per kg in Jhelum, Multan, Rajanpure and Swat etc. The prices during the same period last year were around Rs 80 to Rs 100 per kg.