Govt mulls allowing exports sector to import LNG.

LAHORE -- The federal government is considering deregulating the LNG sector and allowing the private sector to import gas that is presently available at the spot price of $3/mmBTU in the international markets, Pakistan Today has learnt. The price of Asian LNG has hit a record low of $3/mmBTU this month that has made the long-term LNG contracts, the country had earlier signed, highly expensive and unattractive. Sources said contrary to Pakistan, India was purchasing the LNG at around $3/mmBTU. Sources in the textile industry, who were part of a high-level meeting held on Wednesday, said the federal government had made a commitment to the exports sector that the LNG sector would be deregulated and the private sector would be allowed to import LNG directly.

The meeting was chaired by Prime Minister's Adviser on Commerce Abdul Razzak Dawood and attended by Federal Minister for Power Omar Ayub Khan, Prime Minister's Special Assistant on Petroleum Nadeem Babar, Federal Minister for Economic Affairs Hammad Azhar, Governor Punjab Chaudhry Muhammad Sarwar, APTMA's office-bearers and leading exporters and textile millers. Talking to Pakistan Today, APTMA's Group Leader Gohar Ijaz confirmed this development and demanded that the government should allow free import of LNG that is available at the spot price of $3/mmBTU globally. Agreeing with Ijaz, APTMA Punjab's Chairman Adil Bashir said the government's commitment to deregulate the LNG sector would enable the textile sector in Punjab to import cheaper gas at competitive rates and rationalize the cost of...