Shehbaz Sharif stops state LPG auctions after August bids
PM Shehbaz rejects LPG auction proposals until a full policy and legal framework exist, after August bids that risked about Rs900 more per domestic cylinder.
Prime Minister Shehbaz Sharif refused to approve auctions of LPG from state-owned producers without a full policy and legal framework.
He declined interim steps from the Petroleum Division, so August 10 auction results will not go ahead.
The plan was estimated to raise LPG prices by at least 15%, or about Rs900 on an 11.8kg domestic cylinder.
Domestic cylinders are selling near Rs5,000 while the Oil and Gas Regulatory Authority (OGRA) notified maximum is Rs3,296.
Industry officials link tight supply to Taftan limits, a backlog near Gwadar, and import disruption via the Strait of Hormuz.