There are chances of a significent decrease in the price of Liquefied Petroleum Gas (LPG) as Oil and Gas Regulatory Authority (OGRA) has caught 19 leading marketing companies of Pakistan involved in black marketing and illegal profiteering. The authority issued show cause notices to them, secretary LPG Distributors Association of Pakistan told the media yesterday.
Sources said OGRA has made a decision to cancel the licenses of five major companies involved in such a crime as to date the marketing companies have ransacked an amount of Rs 10 billion from the poverty stricken people. For the past month, LPG worth Rs 100 per kilogramme (kg) has been sold at Rs 180 per kg.
The LPG Distributors Association of Pakistan has given an ultimatum of 10 days to the marketing companies for reducing the prices of LPG. In case the companies did not cease their illegal profiteering, LPG supply from Khyber to Karachi would be stopped starting from October 25.