LAHORE, March 24: The liquefied petroleum gas (LPG) marketing companies on Monday announced reduction of Rs10 to 15 in the price of 11.8 kg domestic cylinder with promise of further reduction in future in view of the growing smuggling of gas from Iran due to high local prices.

Announcing the price reduction the LPG Association of Pakistan spokesman Fasih Ahmed said that the retail price of LPG had been reduced to Rs55 per kg.

Meanwhile, the LPG Distributors Association of Pakistan chairman and senior vice-chairman Federation of Pakistan Chambers of Commerce and Industry standing committee on petroleum and gas Abdul Hadi Khan has called upon the LPG production companies to reduce the ex-refinery prices and profit for the survival of industry.

He pointed out that the LPG marketing companies had been forced to reduce the gas prices by Rs10,000 to 11,000 per ton during the past three weeks because its smuggling from Iran had increased to 200 tons per day in view of high prices in Pakistan.