Minister calls for average cost legislation to meet increased gas demand

ISLAMABAD: Minister for Power Hammad Azhar has underlined the necessity for crafting Weighted Common Value of Fuel (WACOG) laws to satisfy elevated demand of the commodity, particularly in peak winter season.

“Throughout winters a requirement spike happens within the native gasoline circuit, which can’t be plugged by imported LNG [liquefied natural gas] until WACOG laws,” he stated in a tweet.

Elaborating, the minister stated, the nation has two gasoline circuits in operation, beneath which 70 per cent was based mostly on native gasoline and 30 per cent on imported liquefied pure gasoline.

“Each circuits are ring-fenced in pricing and provide.” The WACOG is the pricing mechanism that takes under consideration the blended prices of each indigenous and imported gasoline.

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