State Minister for Petroleum Dr. Musadik Malik has said that the government will finalize a deal with Azerbaijan in the coming days to buy affordable liquefied natural gas (LNG).
The minister discussed the arrangement with the media in Karachi while emphasizing its advantages for Pakistan.
He said the agreement gives the government the "right of refusal" if LNG purchases are not essential, but it also permits LNG purchases when necessary.
Additionally, Malik pointed out that the cost-effectiveness of LNG in relation to other energy sources will determine if it is purchased.
According to the minister, having enough foreign exchange reserves would also affect the choice of purchase.
Based on a thirty-day average of two worldwide LNG standards, the minister stated the gas purchase would be taken into consideration if it turns out to be less expensive.
Additionally, he gave the private sector a chance to get inexpensive LNG, opening it up to both big and small businesses. But he was adamant that the sale of this inexpensive LNG would not be allowed.
In response to petroleum dealers' requests for higher margins on petroleum products, Malik emphasized that the margins will be based on the salaries of personnel and their hours worked at the petrol stations.
He said that dealers must adhere to all requirements if they want to increase their margins and that the final report on the dealers' margins would be issued on Monday.
The minister said, "The Petroleum Division has started the data collection process for petrol stations across the country, and this exercise is expected to be finished by Monday."
The minister discussed the arrangement with the media in Karachi while emphasizing its advantages for Pakistan.
He said the agreement gives the government the "right of refusal" if LNG purchases are not essential, but it also permits LNG purchases when necessary.
Additionally, Malik pointed out that the cost-effectiveness of LNG in relation to other energy sources will determine if it is purchased.
According to the minister, having enough foreign exchange reserves would also affect the choice of purchase.
Based on a thirty-day average of two worldwide LNG standards, the minister stated the gas purchase would be taken into consideration if it turns out to be less expensive.
Additionally, he gave the private sector a chance to get inexpensive LNG, opening it up to both big and small businesses. But he was adamant that the sale of this inexpensive LNG would not be allowed.
In response to petroleum dealers' requests for higher margins on petroleum products, Malik emphasized that the margins will be based on the salaries of personnel and their hours worked at the petrol stations.
He said that dealers must adhere to all requirements if they want to increase their margins and that the final report on the dealers' margins would be issued on Monday.
The minister said, "The Petroleum Division has started the data collection process for petrol stations across the country, and this exercise is expected to be finished by Monday."