RLNG price going up


The Government has taken away the independence of many regulatory authorities. When will the Government understand that when a sector involves both private and government investment, then a third party and independent regulatory authority is required to maintain growth without hindrance? Take for example the recent increase in RLNG price by the Ministry of Power via OGRA. The import of RLNG on a 15 year long term contract, on price fixed to Brent price, with a company that is owned by the ruling family of Qatar that has declared personal and business relationships with the Prime Minister of Pakistan, is already a controversial deal.
Even the way it was promulgated and shares given to various government organizations for long term RLNG import contract, was controversial. But now increasing the already expensive RLNG price when the Brent price in the world market has gone down, on the eve of ending regulatory authority’s independence makes the whole RLNG import contract even more controversial and suspicious.
I sometimes wonder about the scandalous news headlines declaring the massive corruption and embezzlement in the RLNG deal that we will get to witness after a decade, and then wish that someone would make all the regulatory authorities independent and also re-check the RLNG deal via a well known international organization, like GiZ, that can verify its actual long term benefits for the people of Pakistan to end all suspicions once and for all and hopefully save us from scandalous corruption news headlines in the future.