ISLAMABAD – The Oil and Gas Regulatory Authority (OGRA) has announced a significant reduction in the price of liquefied petroleum gas (LPG), issuing a notification to implement the new rates.
According to the notification, the price of LPG has been reduced by Rs68 per kilogram.
Following the cut, the new official price of LPG has been fixed at Rs241 per kilogram.
Minister of Petroleum, Ali Pervaiz Malik said Pakistan will raise its imports of liquefied petroleum gas (LPG) from Iran and considers the idea of importing cheaper crude oil from the Islamic Republic.
Pakistan, which is a key mediator in the U.S.-Iran negotiations, has kept close relations with Iran throughout the latest Middle East crisis, and has relied on negotiating directly with Iran safe passage of LNG carriers from Qatar bound for Pakistan during the crisis.
Now that the U.S. has waived the sanctions on Iranian petroleum sales until August 21, Pakistan is considering the potential of importing crude and boost LPG imports from Iran.
“Our relationship with Iran is one of brotherhood and close neighborliness, and I believe we should make the most of our mutual capabilities,” Minister Malik was quoted as saying by Iranian media.
