Federal Minister for Finance Senator Ishaq Dar chaired the meeting of the Sub-committee on Energy constituted by the prime minister at the Finance Ministry on Thursday and discussed import of 600 mmcfd of LNG.
This quantity will be divided between Sui Southern Gas (200MMcfd) and Sui Northern Gas (400MMcfd) for the production of around 2800 MW of electricity on average when supplied to different power plants.
During the meeting, the import strategy was also discussed and it was decided that the power sector will be given the priority.
“As the power production will go up the average price for the consumer will come down and with the availability of LNG in the system domestic sector will not suffer and industry will thrive,” said the finance minister.
The members of the sub-committee also decided that after the import of LNG expensive diesel run plants will only be used during the peak periods so as to save the people from inconvenience due to power outages.
Dar asked the ministries of petroleum and natural resources and water and power to closely work together and share all information so as to avoid wrong estimates and other misconceptions. The decisions should be taken in the larger interest of the country, added the finance minister.
The secretary petroleum also shared the gas management plan with the participants that aims to ensure maximum availability of gas to all key sectors.
The secretary water and power also discussed the plan from the viewpoint of minimising the load shedding in the country and lowering tariffs. The sub-committee shall continue its work on the proposals for LNG import and will soon present its proposals to the prime minister for approval.
