KARACHI, Nov 1: Pak Arab Refinery Limited (PARCO) has decided to defer the revision of prices of liquefied petroleum gas (LPG) to December 1, 2002.

Despite a quarterly review of prices with effect from November 1, 2002 to remain in line with international price trends, the company has made the above relaxation in LPG prices primarily to take care of Petroleum Ministry’s concern to maintain affordable prices for the end users, PARCO says in a press release.

PARCO, however, indicated to the LPG companies that if the entire benefit being made available is not passed on to the end users, then PARCO will be justified to make the revised price effective immediately at any time earlier than December 1, 2002.

The company did not mention as to how much price it intends to increase after Ramazan.

Other refineries like Pakistan Petroleum Limited (PRL) and National Refinery Limited (NRL) have increased the ex-refinery prices of LPG by Rs800 to Rs13,361 per ton on October 1, 2002.

The liquefied petroleum gas prices are being reviewed on quarterly basis in the LPG Producers Advisory Committee meetings. Only PARCO has not increased its prices.

Out of total production of 900 tons of LPG per day, PARCO produces 450 tons a day. PRL, NRL and Attock Refinery Limited (ARL) produce 50 tons, 35 tons and 15-20 tons of LPG a day respectively, while the rest of the quantity arrives through OGDCL and Pakistan Petroleum Limited (PPL) fields. Small quantity of LPG is also being imported.

PARCO has endeavoured to complete the two yearly maintenance turnaround of its Mid Country Refinery in 25 days rather than the scheduled 38 days and has come back on stream earlier as of October 25 by resuming regular supplies of all products.

In the last one month, the LPG prices in the markets have gone up to Rs37-38, from Rs27-30 per kg, owing to shortage of gas in the wake of closure of two refineries for maintenance purpose. liquefied petroleum

gas demand peaks up in rural areas where consumers use gas in place of kerosene oil for burning.