Government Likely to Announce New LPG Policy Soon
Islamabad: After interested parties, including PARCO, sent their recommendations to the petroleum division, the Ministry of Energy (MoE) is now finalising the liquefied petroleum gas (LPG) Production and Distribution Policy, 2021.
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According to sources, the petroleum division will propose the strategy to the Economic Coordination Committee (ECC) of the Federal Cabinet in the coming days.
They said that practically all interested parties had sent the petroleum division their offers.
In a letter to the MoE, PARCO Managing Director (MD) Shahid Mahmood Khan reportedly proposed that, in order to ensure uniform pricing and a level playing field, the domestic producer price of LPG be based on the true import parity price and that regulatory duty (RD) be imposed on LPG imported by sea and land.
It has been recommended that, subject to technical pre-qualification, the producer be permitted to sell any percentage of their output directly or through their subsidiary and offer the remainder quantities to other OGRA approved LPG marketing businesses.
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According to the letter, the government must impose the same sales tax on both domestically produced and imported LPG, and the current advance income tax on imported LPG should be maintained because it may be offset against the importer’s ultimate tax burden.
Because of this, they are experiencing much higher operational expenses and losing out to GMCs with less infrastructure.
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