National kitty suffers billions in losses due to expensive LNG import: Nizami

[Zibago]

National kitty suffers billions in losses due to expensive LNG import: Nizami

• Business
  
• National

3 HOURS AGO BY MONITORING REPORT

Pakistan Today Editor Arif Nizami on Monday revealed that the national exchequer suffered a loss of billions of rupees because of the government’s expensive import of Liquefied Nitrogen Gas (LNG) from Qatar through spot buying.

Speaking in his talkshow DNA on Channel 24, Nizami said that Engro installed a terminal for converting liquid LNG into gas at Port Qasim despite criticism. He said that after conversion of LNG, the gas is supplied through the SSGPL system to the Qadirpur Gas Fields from where it is further distributed to Punjab by SNGPL.

“The government first forced PSO to take responsibility for LNG but it refused. Consequently the entire PSO management was sacked. Later the government appointed Shahid Islam as PSO MD and made him agree into buying the LNG but PSO said that it would only do so if SSGPL picks up the gas consignments.

“Engro set up the terminal at a cost of $156 million which is expected to recover its cost in one and half year – the expected profit in 15 years is estimated at $1.8 billion. The price for gasification of LNG was set at $1.5 per mmbtu and processing charges were set at $1.5 per mmbtu whereas the processing fee is 50 cents across the world. Engro will be paid $273,000 every day by PSO regardless of the supply of LNG from Qatar.”

He said that the National Transmission and Dispatch Company Limited had written a letter to the government stating that running the plant on furnace oil was more feasible than operating it on LNG. “Even PSO wrote a letter to the DG Petroleum Ministry saying that pricing of LNG was on the higher side as compared with furnace oil,” he added.

Nizami said that the government had erred by buying expensive gas even though oil prices were decreasing globally and furnace oil would have been a better option.

“After PSO showed reluctance in bearing the cost of the overpriced LNG, the government sought to burden the SNGPL with the rising circular debt which was resisted by Arif Hameed, the recently sacked MD of the gas entity,” he said.


@Shamain @VARCHASVE @django @WAJsal @Color_Less_Sky

@Armstrong @waz @Leader @engineer saad

 

[Viper0011.]

Pakistan Today Editor Arif Nizami on Monday

Bribing and yellow journalism high on paid $$$ again. A little POS editor has SO many numbers to "talk" about....no facts????? How impressive!!!

Why doesn't this fool go to the Supreme Court of Pakistan and file a case so those who made mistakes or did corruption, can be put in the JAIL!!!, instead of just "talking about it" (money does talk like this editor is).

Oh wait!!!! People who are bribed to write crap like this, don't have proofs!!! How could they go to the court???? This is like everything else. The gas in Texas is sold at $ 2.5 per gallon, this MUST be the real cheap gas that Qatar was suppose to send to Pakistan. NS and SS must've sold it to their business friends in America!!! Darn these people!

AND he was speaking in HIS own talk show...need ratings from people who are emotional and lack common sense? Right thing to do for ratings and $$$$.....sounds very familiar, oh and this dude, is a REAL good friend of that blackmailer journalist Lick-Man's, who has his own "bullshiit and crap against NS" talk show?????

Just for the record, the gas was never meant to be below $ 2 delivered and the cost is FIXED for FIFTEEN years!!! There is no spot or variation in it. That was the idea as it would cost much cheaper for Pakistan by locking current lower prices in for 15 years. This is actually very smart and forward-looking thinking for Pakistan.

If you people want to pay these cheap, illiterate journalist to do propaganda for IK, at-least tell them to make up lies that kind of have some sense to them. You people can't even lie with class? This is just like IK's mouth, it JUST runs, and runs, makes no sense, goes from London to Islamabad to NS to SS to their Daughters and Dead Parents in a few sentences and ends at the "Third Umpire's Finger" (the Middle one sadly for IK).

At the end, the real focused listeners wonders, WTF was all that talk? Was that a bit*ching session by the "greeder", or was there a purpose behind this gibberish???

While, the drunk and high on drugs 20K mob is waving like they are in musical concert, imagining their leader just read a sacred script from heaven against NS and SS!!!! .LOL, you people need to go get some more education and send your leaders to political science and nationalism schools too.

You guys are just making Pakistan look bad due to these bullshiit propaganda crap that any investor reads, not understanding the propaganda part of it, would get scared from Pakistan!!!! Then who cares about Pakistan, didn't the same gang stopped the Chinese president's visit through violent sit ins, JUST so NS's efforts to grow Pakistan fail? People like these are so selfish that they act anti-country all the time and somehow, some Pakistanis still want to consider them leader (without basic idea of leadership and delivery quality in a leader)!!


@Shamain @VARCHASVE @django @WAJsal @Color_Less_Sky

@Armstrong @waz @Leader @engineer saad[/QUOTE]

 

[I.R.A]

It's not only Engro that has the terminal or is it?

 

[I.R.A]

Bribing and yellow journalism high on paid $$$ again. A little POS editor has SO many numbers to "talk" about....no facts????? How impressive!!!

Why doesn't this fool go to the Supreme Court of Pakistan and file a case so those who made mistakes or did corruption, can be put in the JAIL!!!, instead of just "talking about it" (money does talk like this editor is).

Oh wait!!!! People who are bribed to write crap like this, don't have proofs!!! How could they go to the court???? This is like everything else. The gas in Texas is sold at $ 2.5 per gallon, this MUST be the real cheap gas that Qatar was suppose to send to Pakistan. NS and SS must've sold it to their business friends in America!!! Darn these people!

AND he was speaking in HIS own talk show...need ratings from people who are emotional and lack common sense? Right thing to do for ratings and $$$$.....sounds very familiar, oh and this dude, is a REAL good friend of that blackmailer journalist Lick-Man's, who has his own "bullshiit and crap against NS" talk show?????

Just for the record, the gas was never meant to be below $ 2 delivered and the cost is FIXED for FIFTEEN years!!! There is no spot or variation in it. That was the idea as it would cost much cheaper for Pakistan by locking current lower prices in for 15 years. This is actually very smart and forward-looking thinking for Pakistan.

If you people want to pay these cheap, illiterate journalist to do propaganda for IK, at-least tell them to make up lies that kind of have some sense to them. You people can't even lie with class? This is just like IK's mouth, it JUST runs, and runs, makes no sense, goes from London to Islamabad to NS to SS to their Daughters and Dead Parents in a few sentences and ends at the "Third Umpire's Finger" (the Middle one sadly for IK).

At the end, the real focused listeners wonders, WTF was all that talk? Was that a bit*ching session by the "greeder", or was there a purpose behind this gibberish???

While, the drunk and high on drugs 20K mob is waving like they are in musical concert, imagining their leader just read a sacred script from heaven against NS and SS!!!! .LOL, you people need to go get some more education and send your leaders to political science and nationalism schools too.

You guys are just making Pakistan look bad due to these bullshiit propaganda crap that any investor reads, not understanding the propaganda part of it, would get scared from Pakistan!!!! Then who cares about Pakistan, didn't the same gang stopped the Chinese president's visit through violent sit ins, JUST so NS's efforts to grow Pakistan fail? People like these are so selfish that they act anti-country all the time and somehow, some Pakistanis still want to consider them leader (without basic idea of leadership and delivery quality in a leader)!!


@Shamain @VARCHASVE @django @WAJsal @Color_Less_Sky

@Armstrong @waz @Leader @engineer saad

[/QUOTE]

Uncle who is this "You people" you are addressing? For the record I have no political affiliation at all, I refuse to be a patwari, a dancing tabdeeli razakar, a jiyala whose Bhutto never dies and a karkun to kill others. So I hope I am not included in this you people.

 

[SMZ93]

A question Mr. Viper. Are you paid by someone to be so pro-PMLN government? You're their advocate in all sorts of times. Even child abuse scandals I suppose. Anyway, just wanted to know if you're paid or sponsored to spread this awesome happy go lucky, everything perfect propaganda.

No offence intended.

P.S. I'm not pro PTI/JI/PPP or even military dictatorship. Just a humble curious question. Are you PMLN's media secretary or something? You seem to know almost all of the stuff and support and justify all their acceptable, or unacceptable crimes.

Please reply humanely, and avoid personal attacks. You seem quite educated, yet you attacking someone personally earlier by calling them paid/bribed journalists, yellow-journalism is actually quite unfair. Journalists NEVER provide proofs or reveal their sources. Everywhere in the world journalism has nothing to do with the justice system. It's the responsibility of the system/government to perform accountability, and in a corrupt system (just some common sense, not against PMLN administration) who is going to be the prosecutor/judge against themselves? Journalists NEVER file cases, anywhere in the world, be it the US.

Pakistan Today has published quite a few articles against IK (obviously with the permission/approval of their editor) so again your allegations are baseless, and you should consider taking the Editor of Pakistan Today for court against yellow-journalism instead of ranting here.

I used to enjoy your posts and like them. Seems you're just too biased, or 'maybe' paid to write all what you have and do.

 

[Faiez]

Oh wait!!!! People who are bribed to write crap like this, don't have proofs!!! How could they go to the court???? This is like everything else. The gas in Texas is sold at $ 2.5 per gallon, this MUST be the real cheap gas that Qatar was suppose to send to Pakistan. NS and SS must've sold it to their business friends in America!!! Darn these people!

This is not gasoline that the article talks of....

It is about importing LNG and converting it into gas to supply to gas network...due to natural gas shortage in Pakistan.

 

[WishLivePak]

A question Mr. Viper. Are you paid by someone to be so pro-PMLN government? You're their advocate in all sorts of times. Even child abuse scandals I suppose. Anyway, just wanted to know if you're paid or sponsored to spread this awesome happy go lucky, everything perfect propaganda.

No offence intended.

P.S. I'm not pro PTI/JI/PPP or even military dictatorship. Just a humble curious question. Are you PMLN's media secretary or something? You seem to know almost all of the stuff and support and justify all their acceptable, or unacceptable crimes.

Please reply humanely, and avoid personal attacks. You seem quite educated, yet you attacking someone personally earlier by calling them paid/bribed journalists, yellow-journalism is actually quite unfair. Journalists NEVER provide proofs or reveal their sources. Everywhere in the world journalism has nothing to do with the justice system. It's the responsibility of the system/government to perform accountability, and in a corrupt system (just some common sense, not against PMLN administration) who is going to be the prosecutor/judge against themselves? Journalists NEVER file cases, anywhere in the world, be it the US.

Pakistan Today has published quite a few articles against IK (obviously with the permission/approval of their editor) so again your allegations are baseless, and you should consider taking the Editor of Pakistan Today for court against yellow-journalism instead of ranting here.

I used to enjoy your posts and like them. Seems you're just too biased, or 'maybe' paid to write all what you have and do.

Well ppp has qalandari, PTI has leader and PML has him

 

[Zaneesh852]

The LNG is paid by two private companies, a fertilizer and a universal. They have paid PSO 350 Million $$ for purchasing gas from spot market and only their shipments have been arriving in Pakistan. No IPP nor anybody else has been provided LNG so far.

It has become known that two private Pakistani enterprises, a fertilizer company and Universal group have provided $ 350million or so to PSO for the import of LNG on their behalf and it is they who will use it exclusively for their own needs or sell it locally on premium.
LNG contract for fools!