ISLAMABAD – Pakistan Petroleum Minister Ghaulam Sarwar Khan has informedabout the federal government decision of revisiting the LNG deals made bythe PML-N government.
He has said the cabinet decided to renegotiate agreements of the twoLiquefied Natural Gas terminals installed by the PML-N government with theparties concerned due to high return on equity.
He said the return on equity in the agreement signed with Engro Company was44 percent, which is double to the market rate, implying some under handdeal. He said the return rate in the other terminal is 22 percent.
Ghulam Sarwar Khan said the LNG terminal agreements and LNG import dealwith Qatar have brought the economy under stress.
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Responding to a question about IMF programme, the Information Minister saidthe government requires twelve billion dollars to bring the economy out ofthe crisis. He said talks are underway with friendly countries and IMF forthe purpose.
