The Oil and Gas Regulatory Authority has imposed the controversial petroleum levy at PKR 11,485 per tonne of liquefied petroleum gas, inviting severe opposition from the marketing companies.

An OGRA notification has also determined the maximum base stock price of LPG at PKR 83,973 per tonne.

Based on the Saudi Aramco Contract Price for September, local LPG producer prices had been averaging about PKR 72,400 per tonne this month.

The authority has also directed the 11 LPG marketing companies to deposit the levy in government treasury as per their respective production with effect from September 21st 2011.

Following the imposition of levy, LPG prices across Pakistan have been increased by at least 16% or by PKR 13 per kilogram in order to ensure compliance with the latest directive from the authority.

(Sourced from www.thenews.com.pk)