"Iran has offered to make an investment of U.S. $ 250 million in Pakistan gas sector," said Advisor to Prime Minister on Petroleum and Natural Resources, Dr Asim Hussain.

He said that country was facing acute shortage of gas and its had to import gas to overcome the shortage. He hoped that the country would overcome gas crisis within two to three years. He cautioned the consumers to be ready to face gas crisis this year too. "There is no future of CNG in the country and the government has decided to phase out CNG in a phased manner," Asim said.

The Economic Co-ordination Committee (ECC) of the Cabinet, which is meeting in Islamabad on Tuesday , will also consider besides others the proposal regarding fixation of petroleum products' prices on weekly basis instead of fortnightly basis, said Asim Hussain.

Talking to reporters along with the Managing Director Sui Northern Gas Pipelines Limited (SNGPL) Arif Hameed here at SNGPL Headquarters, Dr Asim said the proposal regarding LPG import will also be presented in the Tuesday's meeting of ECC. He said that talks were underway with Qatar for the import of LNG while negotiations were going on with Iran for purchase of 250 mmcfd gas.


He said that demand of CNG was increasing but the number of CNG stations had not increased. "The licenses of CNG stations which are more than 15 years old will not be renewed," he added. Asim said that the fertiliser sector would be provided gas. He added that that Liquefied Petroleum Gas (LPG) was an alternative source of Compress Natural Gas (CNG). "We can overcome shortage of gas in the country through promoting LPG," he added. He said it was not feasible to run everything on gas that's why the government decided to import LPG and establish LPG filling stations. When asked about those involved in gas pilferage, Asim said that strict action will be taken against gas thieves without any discrimination.