+- Pakistan Real Estate Times - Pakistan Property News (https://www.pakrealestatetimes.com)
+-- Forum: Pakistan Real Estate / Property News (/forumdisplay.php?fid=1)
+--- Forum: Latest Pakistan Property & Economic News (/forumdisplay.php?fid=4)
+--- Thread: Price of CNG conversion kit up again (/showthread.php?tid=12318)
Price of CNG conversion kit up again - Lahore_Real_Estate - 11-29-2010 04:04 PM
The price of Compressed Natural Gas (CNG) conversion kit has reached new peak as over 16 percent hike was witnessed during last eight months. According to the retailers, the CNG kit price has further increased by 13 percent after current currency depreciation, besides declining its imports by 25 percent. The price of CNG kits was earlier increased several times, which was directly related with the hike in gasoline rates.
The demand of CNG cars has massively been increased after rising petrol prices where country has considerably witnessed conversion of gasoline cars into CNG during last few years.
Despite all these facts, the importers of CNG kits were using all illegal means to increase its prices and they were openly marketing the same at 13 percent excess rates, retailers claimed. Answering to a question, the retailers said although currency devaluation has created hurdles in the way of flourishing CNG kits industry, it was not up to that extent where industry was completely shutdown.
They lamented that CNG industry was facing immense losses by importers, who were involved in black marketing. They also urged the authority concerned to take stern action against them to facilitate consumers. They opined that the CNG kits could be available at affordable price, if the rates were fairly fixed by importers.
When asked some prominent importers of CNG conversion kits said that the price of CNG kits have artificially been increased to earn more profit. They further said that importers were paying 13 percent extra in its imports because of currency devaluation. They said the importers were presently facing hardships as several consignments, which were booked at previous rates, were being cleared at Rs 85.5 per dollar, forcing importers to increase its rates.