ISLAMABAD - Petroleum Ministry, feeling failure in getting required results from the LPG Policy 2011, has decided to revise the policy and bring changes in LPG pricing formula that would as a result decrease the price of commodity by up to 30 percent in the country.

Sources in Ministry of Petroleum and Natural Resources, Friday, further told that LPG policy 2011 has failed to produce required results as the commodity, under the current formula, is now-a-days out of common man’s reach. However, feeling the common man’s worry pertaining the energy woes, the ministry has decided to introduce amendments in the LPG policy 2011 that as a result will give 40 per cent decrease in the price of the commodity being widely used in the remote areas of the country.  Further, with these changes, local and imported Liquefied Petroleum Gas will also be available to the consumers facing sky high rates at the average rates. They further told that though with the change of this formula of linking the price of locally produced since 2007 the LPG with the price of Saudi Aramco could not produce required fruits/relief to the common man yet the producers earned multi billions with this change in the formula.

It is worth mentioning here that so far no action on the condition of imposing Rs14/kg as a surcharge and the 20pc monthly import of LPG on local LPG producers has been taken due to the stay order of the respectable court. Furthermore, the incumbent government had imposed the LPG Policy 2011 during the month of September 2011 in the country after getting the approval of the economic coordination committee (ECC) of the cabinet which met with failure as very soon a revision will be introduced in the LPG Policy 2011 and particularly the LPG Pricing Formula in the country.