Shehbaz Sharif says Pakistan could not get the required liquefied natural gas (LNG) supply but the coalition government was making efforts to strike deal.
ISLAMABAD: (UrduPoint/Pakistan Point News-June 28th, 2022) Prime Minister Shehbaz Sharif Monday said that the country might face more loadshedding during the next month of July.
Shehbaz Sharif said that Pakistan could not get the required liquefied natural gas (LNG) supply but the coalition government was making efforts to strike deal.
The PM made these remarks while chairing a meeting the PML-N members of the National Assembly and allied parties in the Federal capital.
Pakistan is facing an escalation of its power crisis after it failed to agree on a deal for natural gas supply next month. Tenders for July were scrapped due to high price, and low participation as the country is already taking action to tackle widespread blackouts.
Pakistan had cut fuel oil imports since the second half of 2018 as LNG prices were low, but it had to at times switch back to oil since July 2021 because of sky-high LNG prices.
Earlier, State-owned Pakistan LNG Ltd decided not to purchase tender for July shipments of LNG after it received an offer that would’ve been the most expensive shipment ever delivered to the nation.
PM Shehbaz said that they would soon strike a deal with the International Monetary Fund (IMF) soon.
He said that Pakistan escaped from being bankrupt. "The rich have been taxed directly for the first time and the country is expected to receive Rs200 billion from the elite class," he added.
