Pakistan LPG Auction Halted Amid Legal Issues; Prices May Rise 15%

The Petroleum Division has paused the release of local LPG auction results, facing legal hurdles and political pressure over a potential 15% increase in retail prices. Highest bids for three-year supply lots reached Rs205 million, which could add approximately Rs440 to each domestic cylinder if passed to consumers. The government is pushing to prevent this "signature bonus" burden from impacting consumers, especially ahead of winter. This significant increase in a key household fuel could fuel inflation, potentially impacting the USD/PKR exchange rate and local gold demand as a hedge.

بحوالہ / Source: www.dawn.com