Federal Minister for Petroleum Ali Pervez Malik has revealed the shocking fact that Liquefied Natural Gas (LNG) purchased at expensive rates was sold at a loss, resulting in a Rs 1,000 billion deficit to the national exchequer.
The Federal Minister stated that the government’s priority is to promote local fuel sources, adding that a case regarding the Iran-Pakistan gas pipeline is currently before an arbitration court.
Ali Pervez Malik disclosed the concerning detail that expensive gas has been sold at subsidized rates over the last four years.
He noted that these trade practices forced the nation to endure a staggering loss of Rs 1 trillion.
Furthermore, he pointed out that the power sector failed to purchase the volume of LNG originally promised.
Regarding supply issues, the Minister highlighted a discrepancy in demand from the Power Division. While the division reports a daily demand of 800 million cubic feet, it typically utilizes only 400 million cubic feet.
