ISLAMABAD: The caretaker government will supply expensive LNG to domestic consumers and industries to overcome the gas crisis in winter, which may increase the revolving credit.
Previous governments have been supplying expensive LNG to consumers during winters, which has resulted in increased revolving credit.
At that time, LNG has increased the revolving credit for the state-owned marketing company Pakistan State Oil, which (SNGPL) was supposed to get Rs 470 billion from Sui Northern Gas Pipeline Limited for LNG supply.
PSO imports LNG from Qatar on contract basis and supplies it to SNGPL. However, SNGPL was unable to collect dues from domestic consumers due to absence of legal framework and therefore did not pay the PSO.
Caretaker Energy Minister Muhammad Ali announced that he would supply domestic consumers and industry with imported LNG in the winter, which could increase the revolving credit.
Addressing the 29th annual technical conference organized by the Society of Petroleum Engineers and Pakistan Association of Petroleum Geoscientists, he expressed hope that the gathering of experienced scientists and engineers would generate new ideas for exploring local oil and gas resources in the country. Will give birth.
He praised the theme of the conference, “Unexplored: High-Risk Plays and Economic Challenges”, believing it to be very relevant to the current situation. The PSO was already facing financial difficulties, having received 700,000 from customers. More than billion rupees were to be received while dues of 470 billion rupees were to be taken for LNG supply.
The Energy Minister hoped that the conference would serve as a valuable platform for generating innovative initiatives and solutions to advance the industry.