LAHORE, Dec 30: Liquefied petroleum gas marketing companies on Saturday suspended supplies after having increased the price by Rs7 per kg during the last four days.

Earlier the LPG price was increased from Rs45 to Rs50 per kg on Tuesday and then to Rs52 per kg on Saturday making the 11.8-kg domestic LPG cylinder costlier by Rs82.

LPG Distributors Association chairman Irfan Khokhar described the increase as completely unjustified and an attempt by the marketing companies to multiply their profits because there was no shortage of gas in the market.

He said that these LPG marketing companies extorted profits of more than Rs7 billion by raising the retail price to Rs65 per kg despite low demand during summer.

After Prime Minister Shaukat Aziz took notice of highhandedness of these LPG marketing companies in November and the price was reduced to Rs40 per kg, he said.

He said that LPG demand in the country was estimated at 1,800 tons per day and was being met by local production within the country which was expected to increase by 1,200 tons daily during next year.

He was of the view that the marketing companies were increasing the gas prices in view of the Economic Coordination Committee decision to link the LPG to the international market from the next financial year.