The Ministry of Petroleum has received the most expensive bid in history by delaying the purchase of LNG once again. Sources
Islamabad: The government did not learn from its mistakes. The Ministry of Petroleum once again received the most expensive bid in history by delaying the purchase of Liquefied Natural Gas (LNG). According to details, Pakistan State Oil (PSO) has again delayed in purchasing liquefied natural gas (LNG) for September, due to which it has received the bid for the most expensive LNG in history.
According to the facts presented in the Geo News program ‘Aaj Shahzeb Khanzada Ke Saath‘, the Ministry of Petroleum has not learned anything from the mistakes due to which there is a fear of a loss of Rs 16.5 billion to the national exchequer.
When the tender was opened on September 16, it got the most expensive rate of 34.6%.
If the bids are accepted, there will be a loss of Rs 16.5 billion and if the bids are not accepted, expensive electricity will have to be generated from furnace oil.
The PSO management says the board will decide whether to accept the bids or not. Earlier, the international magazine Bloomberg reported that Pakistan had purchased the most expensive LNG in history, including for September. 2021. LNG deals settled at $.15 per Metric Million British Thermal Units MMBTU. The report further said that Pakistan has made the most expensive LNG deals for September under spot purchase, four LNG deals for September. Cargoes will be purchased at an average cost of ً $15.36 per MMBTULNG.
In the Geo News program “Aaj Shahzeb Khanzada Ke Saath“, it has been revealed that in just three months, the national exchequer lost 500 million or Rs. 83 billion.
This TV program revealed that the government bought 30 percent more expensive LNG from market value, but the National Accountability Bureau (NAB) on Friday signed a 13.3 percent agreement with Qatar five years ago and issued summons notices to former MDs of SNGPL.
Sources in the Ministry of Energy told, three LNG cargoes for September will be procured from the international company Gunners and one from Petro China. Sources said that LNG cargo for 6 to 7 September purchased at a rate of $15.9, for 12 to 13 September at the rate of $15.49, deal for supply from September 17 to 18 is $15.39, and purchase for supply from September 27 to 28 is $15.19 per MMBTU.