ICST lauds govt efforts on LNG import

Islamabad: Islamabad Chamber of Small Traders (ICST) on Friday lauded the government for its principled stance on the import of LNG imports from Qatar.

The tensions in Gulf have resulted in some uncertainty regarding LNG imports from Qatar but the Petroleum Minister Shahid Khaqan Abbasi has clarified that the recent problems will not hit the deal, said Patron Islamabad Chamber of Small Traders Shahid Rasheed Butt.

He said that LNG is playing an important role in power generation, urea production and some other sectors, therefore, its imports cannot be abandoned or reduced.

In case Qatar attracts international sanctions then the import of gas would be difficult therefore government should start finding alternatives immediately, he demanded.

Shahid Rasheed Butt said that government should also take note of the conspiracies of the oil mafia and some other departments which are against the import of LNG.

Ogra, PSO and gas companies are damaging LNG sector for their own interests. The UFG formula has been altered; its percentage has been hiked from 4.5 per cent to 9.2 per cent while gas transportation charges have been doubled in one year.

Apart from all the steps aimed at minting money, the terminal charges have not been reduced despite an announcement of the government which is making this fuel costly.

The country receives six LNG vessels per month having 29 hundred thousand MMBtu gas each. Government departments are now receiving one dollar per MMBtu which translates into around Rs1.85 billion per month which should be tackled before masses lose interest in this cheap and environment-friendly fuel, he warned.