CNG prices in Pakistan have risen to Rs 300 per kilogramme, prompting a public outcry over government inaction.

CNG prices in Pakistan increased to their highest point of Rs 300 per kilogram . CNG Dealers Association Chairman Abdul Sami Khan said that billions of dollars are being wasted in the CNG industry .

Pakistan, May 15, : The CNG price in Pakistan increased to its highest level of Rs 300 per kilogram, according to ARY News, as CNG prices increased to their highest point of Rs 300 per kilogram in Pakistan, according to a statement issued by CNG Dealers Association Chairman Abdul Sami Khan on Saturday.Expriming displeasure with the price increase, the chairman said that billions of dollars are being wasted in the CNG industry, adding that the steep increase will weaken demand.The Chairman said that if the federal government continues to provide RLNG to the CNG sector at subsidized rates, it should ultimately end the CNG sector.The meetings with the International Monetary Fund (IMF) on May 18 are vital.

According to Pakistan's finance minister, the government is losing per litre 30 rupees in oil.However, the decision to raise the price of petroleum products is not yet made, he said.The buyers in Pakistan are also worried by the long-standing structural defect in the country's economy, which is exacerbated by the global challenges of the COVID-19 pandemic and the Ukraine-Russia war.Moreover, a dramatic rise in the import bill will adversely affect the Pakistani Rupee.

The country's domestic investment potential is exemplified by the fact that less than half of domestic savings make their way to the financial sector, the remaining being sold as investments, being flown through informal channels or absorbed directly by the government through National Savings.Since the economy has failed to adapt to technological advances, a significant infrastructure deficit has been created, which calls for a significant inflow of funds into Pakistan's economy.However, the government faces a significant challenge in the case of economic problems that are structural and deep-rooted.