LAHORE: The local business community has lauded the liquefied natural gas (LNG) deal with Qatar and vowed to help government overcome energy crisis in the country at least by 20 percent.
All Pakistan Textile Mills Association (Aptma) Punjab Chairman Amir Fayyaz, in a statement, urged the government to implement the plan of supplying this cheaper gas to the industry at price of $5.5 per mmbtu at least, adding, “We are expecting provision of RLNG at $6 per mmbtu to the industry to make us competitive in the region.”
He continued that with the supply of 3.75 million tons of LNG to the energy-starved country the supply-demand gap, which is standing at approximately 2-4 BCFD (billion cubic feet per day), will decrease.
All Pakistan Business Forum (APBF) President Ibrahim Qureshi questioned the decision to construct the proposed pipeline from Qatar for a foreign company with the money of public. The LNG transportation will require pipeline from Karachi to upcountry which will take a long time. And if it is transported through SSGC pipelines the province can raise objection and demand the share, resulting into hike in gas cost.
Under the agreement with Qatar, three LNG-carrying ships would reach Pakistan every month which will be started within 2016 and the number of vessels would increase to five after 2017, he added.
PML-N Traders Wing general secretary Shahid Nazir said that China Pakistan Economic Corridor is a big breakthrough and its early completion would ensure progress and prosperity in the country and would connect the country to the Central Asian States. He urged the government to ensure timely completion of all projects to keep the momentum of ongoing growth continue.
Federation of Pakistan Chambers of Commerce and industry (FPCCI) President Abdul Rauf Alam said that the deal would save the country $1 billion annually while a further $600 million could be saved in diesel costs for power generators.
Former LCCI president and LPG Association of Pakistan Chairman Faruq Iftkhar that although economy had not come out of woods so far, however the positive developments on the economic front are giving encouragement to the business community.
