Gas crisis.

Following a major nationwide electricity shutdown that remains largely unexplained by the government, which is causing load shedding in winter of all seasons, it seems Pakistan's energy woes are only going to get worse as the ongoing gas shortage is about to intensify in the coming months. High worldwide gas demand these winters, interruptions to supply in the three largest Liquefied Natural Gas (LNG) exporting countries and increased freight prices have caused spot prices of the commodity to skyrocket. Price of LNG has nearly tripled since early November last year causing suppliers who had confirmed cargoes for February to back out. Major international LNG traders, which include state-run entities as well, are amongst the firms that have defaulted on their bids, making any legal recourse all the more complicated.

The PTI, while in the opposition was severely critical of long-term bilateral contract the PML-N made with Qatar for LNG supply, terming it 'overpriced'. Since it came to power in 2018, both former Prime Minister Shahid Khaqan Abbasi and his finance minister Miftah Ismail have been hounded by NAB, are out on bail after being jailed for months with allegations of corruption over...