Lahore: The federal government is contemplating to deregulate the industries consuming Liquefied Natural Gas (LNG) and allowing the private sector to import it at the current spot price of USD 3 per mmBTU (British Thermal Units), according to news sources.
To this effect, the government held a high-level meeting with representatives from the All Pakistan Textile Mills Association (APTMA) and made a commitment to the exports sector regarding the deregulation of the private sector – enabling them to import LNG directly.
APTMA Chairman Adil Bashir lauded the development and said that the deregularised LNG sector would enable the textile industry to import gas at cheaper rates and bring down its production cost.
sSources maintain that with this
development, LNG imports would become more cost-effective; expected to cost
around USD 4.5 per mmBTU – in contrast to the current cost of LNG at USD 11.2
per mmBTU (which after the inclusion of the government’s export sector subsidy comes
down to USD 6.5 per mmBTU).
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
It is about time that the government is out of Oil and Gas business. Import, Refining and Distribution should be in the hand of oil companies. Government should get a flat TAX on the raw import. This will boost competition and bring the prices down to the international level. NO government subsidies.
It is about time that the government is out of Oil and Gas business. Import, Refining and Distribution should be in the hand of oil companies. Government should get a flat TAX on the raw import. This will boost competition and bring the prices down to the international level. NO government subsidies.