Pakistan’s State Minister for Petroleum, Musadik Malik, has assured that an LNG purchase agreement framework with Azerbaijan will effectively resolve the gas crisis in Pakistan and ensure an uninterrupted gas supply for domestic consumers during the upcoming winter season. Under the agreement, Azerbaijan will provide monthly LNG cargo to Pakistan at a more affordable price.
In the current year, Pakistan is expected to receive 9 to 10 LNG cargoes from Azerbaijan, strengthening bilateral cooperation in the oil and gas sectors. Minister Malik emphasized that this collaboration will help meet Pakistan’s energy needs.
Addressing concerns about gas shortages, Minister Malik stated that the government is confident in its ability to manage gas supply during the winter season. He acknowledged specific infrastructure challenges in certain areas of Karachi and emphasized that the government is prioritizing their resolution.
The government is also actively working to attract investments from Gulf Cooperation Council (GCC) countries as part of the ‘Economic Revival Plan.’ These investments, amounting to billions, will create employment opportunities, particularly for the youth and women.
Regarding the International Monetary Fund (IMF), Minister Malik mentioned that Pakistan has met all the conditions set by the IMF for a staff-level agreement. The government remains optimistic about finalizing the IMF program soon.
Expressing his disapproval, Minister Malik strongly condemned the additional benefits provided to the Senate chairman, considering the country’s current financial challenges. He vowed to raise objections to these privileges in his role as a senator.
In summary, the LNG purchase agreement with Azerbaijan is expected to alleviate the gas crisis in Pakistan. Efforts are underway to resolve infrastructure issues, attract foreign investments, and meet the IMF’s conditions. The government aims to prioritize the welfare of its citizens while addressing the country’s financial constraints.