ISLAMABAD: The Supreme Court has ring alarm bells over the secret LNG dealwith the Qatar allegedly giving loss of billions to the National exchequer.
SC on Tuesday asked the National Accountability Bureau to submit an LNGagreement with Qatar that was signed during the previous government’stenure.
The apex court was hearing a petition filed by a citizen pertaining to theLNG contract. According to the petition, the national exchequer cut lossesworth billions of dollars due to the contract.
As the hearing went under way today, Chief Justice of Pakistan Justice MianSaqib Nisar noted that a representative of the National AccountabilityBureau (NAB) should have been present in court.
The court then ordered NAB to immediately submit the probe’s details.
During the Pakistan Muslim League-Nawaz (PML-N) government’s tenure, formerpetroleum minister Shahid Khaqan Abbasi had signed the LNG contract withQatar.
As per the contract, Pakistan will be able to purchase LNG from Qatar forthe next sixteen years.
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According to *Bloomberg*, Pakistan saved more than $600 million over thefirst 10 years of a natural gas supply deal by playing gas firms off eachother and entering a contract with Qatar.
Pakistan emerged as an LNG buyer after the deal with Qatar was eventuallysettled for 3.75 million metric tons annually over 15 years. Some ofPakistan’s factories were forced to shut, resulting in blackouts, due todeclining production.
The country’s imports have grown rapidly since early 2016. Pakistan was theseventh-largest LNG buyer globally in August, according to Bloombergvessel-tracking data.
Lawmakers have criticised negotiations between state agencies and foreignLNG suppliers. Some have claimed that the lack of transparency is hidingpotential corruption.
