LAHORE -Oil and Gas Regulatory Authority (OGRA) Chairman Tauqeer Sadiq on Monday said that the prices of petroleum products will reduce up to six per cent by March 1, 2010 after a decrease in the prices of crud oil in the international market. He further said that the gas load-shedding would end by next month as the supply would improve considerably as compared to demand due to change in weather. The OGRA chairman stated this during a meeting with traders and industrialists here at Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Monday. He also stressed that if the countrys untapped natural resources are explored it would help overcome existing energy crises in Pakistan. He further claimed that the OGRA authorities always took decision in the national interest. He said that the demand of gas increased manifold during the winter season, leaving no other option with the authorities but to resort to load shedding to manage the deficit. He also claimed that the gas load shedding would end completely by the next month. He said that the agreement on Iranian gas pipelines project, import of LNG and new exploration could bring gas in abundance in the system and would also help end gas load shedding from the country during the next year. He also said that the prices of crude oil were at its peak in the international market, which compelled the authorities to increase fuel prices in the country. Now the rates of crude oil have decreased in the international market and if remained stable, the prices of petroleum products would decrease from 4 to 6 percent. The OGRA Chairman also warned that the officials involved in any kind of violation would not be spared. He also urged the FPCCI members to help identify those involved in malpractice. He also sought suggestions from business community to improve functioning of his department. On this occasion, Acting President FPCCI Haji Aftab Ahmad Barlas said that the current energy shortage had badly affected the industrial growth and production in the country. He also said that the increase in fuel prices always lead to increase in the cost of doing businesses. The clouds of uncertainty are still floating. This is due to increase in gad and fuel prices, he added. He stressed that new resources must be explored to add gas into the system. He also suggested that OGRA should issue the schedule of load shedding and also ensure its implementation after consultation with all the stakeholders including the industrial sector. Iftikhar Ali Malik and Abdul Sami Khan also spoke on this occasion.