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KCCI terms Pakistan-Qatar LNG deal as ‘wonderful achievement’

KCCI terms Pakistan-Qatar LNG deal as ‘wonderful achievement’

KARACHI: Chairman Businessmen Group (BMG) & Former President Karachi Chamber of Commerce & Industry (KCCI) Zubair Motiwala, while terming the signing of a long-term LNG supply contract between Pakistan and Qatar as ‘wonderful achievement’, stated that KCCI 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.

“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”, he added.

Zubair 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 which arose only few months ago when Pakistan was plunged into severe energy crises specially the export-oriented industry suffered huge losses because of gas shortages, low pressure and other allied matters”, he commented.

He was of the opinion that the government had to put in expensive RLNG and had to charge exporters more but things have now come to a conclusion whereby the tariff would be brought back as per agreement from 1st of March 2021 to its normal position for the consumers.

Referring to his conversation with Nadeem Babar, Zubair Motiwala said that the PM’s Special Assistant was requested to reduce the energy tariff in light of low-priced LNG agreement which has been brilliantly managed. “Nadeem Babar promised that the government can consider reduction in tariff from next month”, he added.

He further informed that it was also discussed that the recent policy of the government to convert captive power plants into power consuming industries should also be reconsidered and the PM’s Special Assistant assured that that no disconnections of any gas consuming industry would be made and the same was instructed to relevant gas supplying companies which KCCI warmly welcomes. “This is a real achievement and a breakthrough in dealing with the energy crises being suffered by Pakistan.”