LAHORE, Oct 31: The country’s largest liquefied petroleum gas producer, Jamshoro Joint Venture Limited, on Friday announced a 15 per cent cut in the LPG production prices for November and December.

The announcement to this effect was made by JJVL director Fasih Ahmed during a press conference at the Lahore Press Club on Friday.

He said the LPG price in retail market would gradually reduce by an average of Rs8 per kg from the existing Rs72 to Rs75 to around Rs65 as a result of cut in production price from Rs54,485 per metric ton to Rs46,512.52 per metric ton as other producers would also reduce prices.

He said the retail price of an 11.8 kg domestic cylinder would be reduced by over Rs90, adding that the JJVL had imported 5,000 tons of LPG and would import more gas, if necessary, for ensuring supplies at the reduced price.

Mr Ahmed said the JJVL had decided to cut the LPG production prices in view of falling of commodity prices in the international market.

He said the company was meeting the fuel requirements of half a million households with an investment of 11 million dollars.