ISLAMABAD – Federal government is mulling option of reviewing the LiquifiedNatural Gas projects.
As per the media report, the government is planning to review theagreements pertaining to the Liquefied Natural Gas (LNG) terminals signedby the previous government over accusations of giving a higher rate ofreturn to investors.
The issue came up for consideration before the meeting of EconomicCoordination Committee (ECC) of the cabinet. During the meeting, officialsfrom Petroleum Division informed the committee that the rate of equity/rateof investment for the first LNG terminal was 15 per cent while theinvestment rate for the second terminal was 15.4 per cent.
The members of the meeting observed that the rate of return on theinvestments was higher than recommended. They deemed that the evaluation ofthe said agreements was important to find out a chance to revise or amendthe agreements.——————————
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The ECC directed the Petroleum Division to seek legal advice from the Lawand Justice Division in this regard and find out an option to revise theterms and conditions.
