ISLAMABAD: Senate Standing Committee on Petroleum Monday summoned the Balochistan Chief Secretary and provincial energy secretary in the next meeting to resolve the issues related to the implementation of the lease agreement reached between the Petroleum Division and the provincial government in 2016.
The committee meeting, chaired by Senator Muhammad Abdul Qadir, was briefed on the report of the Sub-Committee on the issue of implementation of the terms of the lease agreement and informed that the parties were not agreeing on the “term of reference.”
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The Secretary Petroleum Division informed the body that there had been no progress on the gas agreement with the Balochistan government despite his team prepared recommendations, while final proposals from the provincial authorities were still awaited to move forward on the matter.
He also briefed the committee on the latest status of Gas Infrastructure Development Cess (GIDC) cases and the collections made so far.
The committee chairman observed that around Rs 445 billion had to be collected from various institutions and stressed the steady progress in the recovery of GIDC dues.
The Managing Director of Pakistan LNG Limited (PLL) said four LNG cargoes would arrive in April, adding the prices of LNG in the world had started decreasing and currently the spot market rate stood at $14-5 per mmbtu (Million Metric British Thermal Unit).
