No proposal to raise CNG prices: Qamar

ISLAMABAD: Minister for Privatization and Investment and Natural Resources Syed Naveed Qamar on Friday informed the Senate that no proposal is under consideration to raise CNG prices adding that the government is taking pragmatic measures to cope with shortage of gas.Replying to various questions during question hour session, the minister said Consumer Price Indus (CPI) registered at 12 per cent in 2007-08 and 20.8 per cent in 2008-09. However, CPI declined to 10.7 per cent in August 2009 owing to the measure taken by the government,he added.He said hoarding was main cause for hike in the prices of sugar and other commodities.The minister said Trading Corporation of Pakistan (TCP) has been directed to release its stock to market to stabilize sugar prices.Naveed Qamar said the government reviewed the price situation in the country in every Economic Coordination Committee (ECC) meeting, discussed prices of essential items and took necessary steps for maintaining stability in prices.He said in view of a possible delay in cane crushing, the ECC allowed the import of 1000,000 tons of sugar to build TCP stocks. He said the government is providing various essential items at Utility Stores Corporation (USC) at lower rate than the open market.The minister said Monopoly Control Authority has been converted into Competition Commission of Pakistan (CCP) and granted powers to prevent non-competitive behavior in the market. He said provincial governments are responsible for price check/control and take appropriate measures to check overcharging.—Agency