Khokhar highlighted the grave risks associated with inferior LPG equipment and called for stringent measures against non-compliant vendors.
LAHORE: A crackdown on LPG shops has resulted in the closure of 80% of outlets across Lahore, following reports of price gouging and safety hazards.
Despite Ogra setting the LPG price at Rs 234 per kg, black market rates soared to Rs 320 per kg in various parts of the city. The surge in demand, exacerbated by natural gas shortages, has left domestic consumers, rickshaw drivers, and hoteliers scrambling for supply.
Irfan Khokhar, Chairman of the LPG Industries Association, urged the government to swiftly implement a code of conduct for LPG vendors. He emphasized the need for legalizing operations to protect honest businesses and ensure consumer safety, citing concerns over substandard cylinders.
Khokhar highlighted the grave risks associated with inferior LPG equipment and called for stringent measures against non-compliant vendors. He expressed support for government initiatives aimed at regulating the industry, underscoring recent closures of factories producing unsafe cylinders in Gujranwala.
The developments underscore a critical need for regulatory reform to safeguard public welfare and stabilize LPG markets across Lahore and beyond.
Pakistan’s State-Owned Enterprises Report Record Annual Losses of Rs 905 Billion
Islamabad: State-owned enterprises in Pakistan have reported staggering annual losses amounting to 905 billion rupees, marking a 23% increase from the previous fiscal year.
According to the latest financial report, the energy sector alone incurred losses of 304 billion rupees. The government extended financial assistance totaling 1,021 billion rupees to various institutions, with 759 billion rupees allocated to the energy sector, including distribution companies.
Over the past decade, losses incurred by entities like Railways and the National Highway Authority (NHA) have exceeded a colossal 5,595 billion rupees. The mounting deficits have also led to a revolving debt surpassing 4,000 billion rupees.
Read More: Domestic LPG Cylinder Costs to Rise by Rs. 164 Amid Tax Hike
Despite some government institutions generating profits of 703 billion rupees last year, the overall net losses still reached 202 billion rupees. The report underscores that while the book value of government assets stands at 35,218 billion rupees, liabilities have risen by 20% to 29,721 billion rupees.
These figures highlight significant financial challenges facing Pakistan’s public sector, prompting calls for comprehensive reforms to stabilize economic sustainability and governance.
