Pakistan Businessmen and Intellectuals Forum News in Pakistan

Closing of LNG Terminal Hitting Masses, Economy PBIF.President Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain has said that the indefinite closure of country’s second LNG terminal in the winter has added to the problems of masses and the business community. In an statement issued from PBIF’s office on Wednesday , he said that shortage of gas has increased the cost of doing business which is beating production and exports while the decision of the government to close power plants running on furnace oil has backfired due to the closure of the LNG terminal having 600 mmcfd capacity, he said. The government should take action against those who started the LNG terminal with a delay of almost six months and closed it days after its inauguration on Nov 20th, he demanded. Mian Zahid Hussain said that the sub-standard material used in the terminal has not only resulted in heavy losses but it has also damaged the image of the country and the LNG project which was viewed as a miracle among stakeholders. He said that the government should prefer spot purchasing and avoid long-term deals and recover the losses of 272,000 dollars per day from the operators of the second terminal. The closure of second LNG terminal has resulted in the inability to offload ships carrying LNG while the questions are asked about the fate of three LNG-bases powerhouses in Punjab having a total capacity of 3600 megawatts, the former minister said. The veteran business leader said that a gas company and a terminal operator have recently entered a deal without legal process which should be probed as questions are being asked about it. You can follow us on Twitter, add us to your circle on Google+ or like our Facebook page to keep yourself updated on all the latest from Technology, Entertainment, Sports, Gadgets, Latest Government Jobs, Cooking Recipes, Health and Beauty, Autos and Vehicles and Much More.