Campaign to sabotage LNG import, thermal power plants

ISLAMABAD: Malicious campaign against Akbar Associates (AA) has led to the denial of contract for the 2nd LNG Terminal at Port Qasim for the company, which would further delay the availability of RLNG for  the under construction three 1,200MW power plants. 

Prime Minister Nawaz Sharif and Punjab chief minister have repeatedly said that the project would be completed in 2017 at every cost, but certain black sheep are trying to get the projects delayed inordinately.

AA had won the said contract for offering a much better and more efficient land based solution. It was alleged that the credit worthiness certificate (CWC) issued by Burj Bank Islamabad which was presented by AA as part of their technical offer was fake.   However, the investigations carried out by the FIA and State Bank of Pakistan (SBP) into the allegations proved that the CWC was not false. The inquiry report was also submitted by FIA to the Supreme Court wherein it was laid down in categorical terms that CWC was issued by Burj Bank F-8 Islamabad, with the knowledge of its regional management.  It was said and accepted in SSGCL’s Procurement Committee Report dated June 22, 2015 that the CWC was neither considered nor was it relevant in determining the financial standing of the AA led consortium.

It said that Akbar Associate’s bid was backed by equity commitments from credit worthy Chinese engineering firms, which were foreign partners of the AA Consortium, which included multiple letters of intent from reputable banks, such as bank of China. 

The SSGCL report, which was presented to Sindh High Court, said that only the charge of presentation of fake CWC on the basis of which Akbar Associates was being denied its lawful right to the contract has created serious issues of per-ception against the winning bidder.  The FIA report which is lying with the Supreme Court clears this negative perception.

The project suggested by Akbar Associates will not only fetch $400 million in direct investment as against $70 million from a temporary and make shift floating terminal arrangement offered by PGPL-JJVL but it will also provide tremendous impetus to the country’s LNG import infrastructure.