Indefinite closure of LNG terminal hitting masses, economy

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Staff Reporter

Islamabad

President Pakistan Businessmen and Intellectuals Forum (PBIF), President AKIA, Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister Mian Zahid Hussain on Wednesday said the indefinite closure of country’s second LNG terminal in the winter has added to the problems of masses and the business community.
Shortage of gas has increased the cost of doing business which is beating production and exports while the decision of the government to close power plants running on furnace oil has backfired due to the closure of the LNG terminal having 600 mmcfd capacity, he said. The government should take action against those who started the LNG terminal with a delay of almost six months and closed it days after its inauguration on Nov 20th, he demanded.
Mian Zahid Hussain said that the sub-standard material used in the terminal has not only resulted in heavy losses but it has also damaged the image of the country and the LNG project which was viewed as a miracle among stakeholders.
He said that the government should prefer spot purchasing and avoid long-term deals and recover the losses of 272,000 dollars per day from the operators of the second terminal.