ISLAMABAD: The prices of the Compressed Natural Gas (CNG) have on Monday shot up record high.
The government raised the prices of the CNG unprecedently up to Rs22 as the Federal Budget 2019-20 came into effect from July 1. The federal government had on Sunday hiked the General Sales Tax (GST) on the CNG by 2.5 percent.
According to the government notification, the hike of Rs20 will soar CNG’s price to Rs124 a kilo in Sindh and Balochistan, whereas with an increase of Rs22 in Khyber Pakhtunkhwa, the CNG will be sold at Rs139 a kilo. Nevertheless, the new price of CNG in Punjab has become Rs90 a litre with an increase of Rs4.
It is pertinent here to mention that the Ministry of Finance through a notification on Sunday decided not to increase the prices of petroleum products for the month of July 2019 and the existing price of June 2019 will remain unchanged for the next month.
The crude price in the international market slumped to $64 a barrel from $72 a barrel.
The Oil and Gas Regulatory Authority (OGRA) had proposed reduction of 77 paisa a litre in price of petrol, Rs2.94 in price of kerosene.