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February 28, 2021

KCCI hails Pak-Qatar LNG deal

Business

February 28, 2021

KARACHI: Chairman Businessmen Group (BMG) Zubair Motiwala, on Saturday hailed the signing of a long-term LNG (liquefied natural gas) supply contract between Pakistan and Qatar as a ‘wonderful achievement’.

“The KCCI (Karachi Chamber of Commerce & Industry) and all its affiliated trade bodies warmly welcome and highly appreciate the deal between Pakistan and Qatar which was the result of joint efforts of the political and military leaderships,” Motiwala said in a statement.

“This wonderful deal has paved way for supply of additional 200 million cubic feet a day (MMCFD) at around 31 per cent lower rate than the 2015 contract for 500MMCFD which will definitely ease out the tariff pressure on consumers and also help in resolving the gas shortages issue being faced by the country.”

Motiwala particularly appreciated the devoted efforts made by PM’s Special Assistant Nadeem Babar who played a pivotal role in achieving this benchmark which was a 10-year long agreement.

“It was really heartening to see that the government took notice of the deteriorating energy scenario and timely responded to deal with the situation,” he said.

Referring to his conversation with Nadeem Babar, Zubair Motiwala said that the PM’s Special Assistant had promised that the government could consider reduction in tariff from next month.