Pakistan is unable to buy fuel on the spot market, and is either skipping purchases or turning to alternatives such as Afghan coal in response to a worsening energy crisis, Bloomberg reported.
State-owned Pakistan LNG Ltd did not award a recent procurement tender seeking several shipments of liquefied natural gas through May due to high offer prices.
Meanwhile, Cement manufacturers, are buying coal from Afghanistan at roughly half the price of shipments from a regular supplier, South Africa. Poor countries like Pakistan that are heavily reliant on imported fuel have been hardest hit by price spikes following Russia’s invasion of Ukraine.—TLTP
