Govt Allows PLL to Execute LNG Deal With Azerbaijan State Oil Company

The Economic Coordination Committee (ECC) of the cabinet has allowed Pakistan LNG Limited (PLL) to execute the proposed Framework Agreement with the State Oil Company of Azerbaijan Republic (SOCAR).

Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar chaired the meeting of the ECC on Wednesday.

The ECC considered a summary of the Ministry of Energy (Petroleum Division) regarding the Framework Agreement between PLL and SOCAR. In this regard, the ECC after detailed discussion allowed PLL to execute the proposed framework agreement with SOCAR Trading.

The ECC directed the Ministry of Petroleum to determine our need for LNG at least three months in advance on a rolling basis.

The ECC also approved Rs. 404.769 million as technical supplementary grant (TSG) in favor of the Cabinet Division for various requirements of 6 Aviation Squadron.

The ECC also discussed and approved Rs. 157.734 million additional funds in favor of the Ministry of Industries and Production for the payment of Employees’ salaries of Heavy Electrical Complex (HEC), a markup to Bank of Khyber, and operating/running expenses, subject to reconciliation of figures from Finance Division.

It further directed the Privatization Commission to complete the privatization process of HEC by 30th June 2023.

Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Power Khuramm Dastagir, Federal Minister for Industries and Production Syed Murtaza Mahmud, former Prime Minister Shahid Khaqan Abbasi, Minister of State for Finance and Revenue Aisha Ghous Pasha, Minister of State for Petroleum Musadik Malik, SAPM on Finance Tariq Bajwa, Federal Secretaries and other senior officers attended the meeting.

Source: Pro Pakistani