ISLAMABAD: Proposed Liquefied Petroleum Gas (LPG) regulation policy would help end monopoly of ‘mafia’ and ensure smooth supply of commodity throughout the year at prescribed rates, a senior official of the Ministry of Petroleum and Natural Resources said.

The ministry is finalizing a policy to regulate LPG prices and curb monopoly of the ‘mafia’ multiplying miseries of the consumers especially during winter.

“Hopefully, the LPG prices will be regulated in the coming two months as the proposed LPG regulation policy is in its final phase after the nod of Council of Common Interests (CCI),” the official told the media.

The mafia creates artificial shortage to mint money by increasing prices of the commodity at its own, which prompted the authorities concerned to control the profiteers and facilitate the end-users through appropriate regulations.

Chairman LPG Distributors Association (LPGDA) Irfan Khokhar said formulation of the policy was a good initiative of the government, but it should also take measures to remove concerns of LPG importers.

He appreciated the federal government for formulating the LPG regulation policy and getting it passed through CCI taking all stakeholders on board.

After the policy, he said, the Oil and Gas Regulatory Authority (OGRA) would start the process to regulate the LPG prices. “Consumers will get their LPG cylinders refilled less than Rs 900 each throughout the year across the country,” he said.

Presently, he said, around 104 licence-holder LPG marketing companies were operating across the country and total sale of the commodity was approximately 3,000 metric ton per day across the country.

With effective implementation of the regulation policy, Khokhar said, there would be no monopoly of the marketing companies and consumers would get LPG on prescribed rates.