ISLAMABAD – The Public Procurement Regulatory Authority (PPRA) has announced exemptions for LNG procurement for six month, starting from January to June 2022.
It took the decision in a board meeting on January 24, 2022 under which PPRA rules regarding the LNG procurement will not be applicable on Pakistan LNG Ltd (PPL) in this duration.
Reports said that the Petroleum Division held a meeting on Tuesday to discuss import of LNG from Qatar under G2G after PPRA announced exemptions.
While justifying the PPRA decision, PPL Managing Director Masood Nabi said that buying LNG cargoes had become a challenge due to price volatility.
He said that a short time is offered to the bidders to take decision for the spot cargoes as LNG prices have been very volatile in the spot market.
Previously, PPL had been following the three-day response process under the PPRA rules and now it has been allowed to pace up the decision-making process to procure 27 LNG cargoes.
Exemption from applicability of rules 13(1) and 35 for procurement of approximately 27 spot cargoes to be purchased within the next six months, ie, January 2022 to June, 2022 may be granted to PLL.
Read more: https://pakobserver.net/senate-body-seeks-explanation-over-not-acquiring-lng-at-cheaper-rate/
