ISLAMABAD - The government Friday asked Petroleum Ministry and Oil and Gas Regulatory Authority to finalise price fixation formula of the Compressed Natural Gas at the earliest. The Economy Monitoring Committee, chaired by Finance Minister Naveed Qamar, directed Ministry of Petroleum and OGRA to complete its pro-cessing and formulations shortly and take follow up action in consideration of public convenience. The Ministry of Petroleum and the OGRA briefed the EMC over administrative processing of CNG pricing formula finalisation in sync with all stakeholders. The govt has authorized the OGRA to come up with a formula, which ensure up to 20 per cent rate of return to CNG station owners against current practice of charging double prices. The OGRA has forwarded a summary to the Law Ministry in order to amend its existing rules, which restrict the body to fix and monitor the CNG prices. The Ministry of Food, Agriculture and Livestock briefed the Committee over the continued stability of food grains prices. It was held that urea demand and supply position inclusive of prices shall further stabilize in consideration of special government measures put in place. The DAP fertilizer prices also remained stable in all province, said the MINFAL. Internationally the DAP prices are likely to go down once newly installed overseas manufacturing DAP production plants go into operation.  The Committee directed the MINFAL to expeditiously complete its interaction with relevant Saudi Authorities for provision of urea to meet domestic farmers' needs. The EMC asked the Agriculture Ministry to compare domestic, regional and international market wheat and rice prices for a uniform decision making after completing necessary homework that should take into account Rabi and Kharif season's crop-related factors. The Ministry of Industries briefed the Monitoring Committee about international edible oil prices, comparing it with local production and stock position, adding that these were getting scaled down. It informed EMC that Pakistan's domestic per capita edible oil consumption was higher then regional countries, i.e. 18.1 kg per capita. The EMC directed that the benefit of decreasing edible oil prices in international market be passed down to the consumers, and measures be taken for special Ramzan Package to the consumers in weeks to come. The Committee earlier asked Ministries of Industries and Food and Agriculture to re-check the existing wheat and sugar stocks and ensure its equitable distribution to the people of four provinces based on their respective requirements. The Ministry of Commerce briefed EMC regarding import of non-essential and luxury items. The Finance Minister directed the Ministry of Commerce and the FBR to complete its technical deliberations and homework at the earliest and submit recommendations on the subject for consideration and review of the Committee.