LNG arrival to reduce electricity, gas loadshedding: Mian Shahid

Lahore: Offer by China and Brunei to provide LNG to Pakistan shows increasing trust of international community in the policies of incumbent Government, a business leader said Sunday. The decision of Prime Minister Nawaz Sharif to initiate negotiations for import of LNG from Malaysia, Algeria, Nigeria and Trinidad is a wise move which will help Pakistan mitigate energy crisis, said Mian Shahid, Chief of United International Group.

In a statement issued here today, he said that government is serious in fulfilling promise of resolving energy crisis which will pave way for a developed and prosperous Pakistan. Lauding the efforts of PM Nawaz Sharif, CM Shahbaz Sharif and Petroleum Minister Shahid Khaqan Abbasi, he said that our leaders would soon get nation relieved of power and CNG loadshedding, he said. Import of LNG will not only revive CNG sector with Rs 450 billion investments on stake but also provide millions of jobs besides combating pollution.

Mian Shahid said that Pakistan has become a lucrative market for LNG suppliers and that TAPI initiative will have a positive impact on whole region. He said that recent discoveries of mineral reserves in Chiniot including gold, copper, iron ore and silver must be tackled on preferential basis with caution to avoid repetition of Reko Diq mistakes.

Mian Shahid said that unprecedented fall in the prices of gas in the international market is not only hurting LNG producers but also the shipping industry. The situation can transform into a global crisis anytime. He said that Ogra quorum must be completed immediately as it can hurt development of energy sector in Pakistan.