ISLAMABAD: Pakistan Businessmen and Intellectuals Forum (PBIF) President Mian Zahid Hussain said that some amendments in the LNG policy could help country reduce energy scarcity and save billions of dollars. He said LNG is best suited for transport sector to replace petrol cost and least for the power sector where it will replace the cheapest furnace oil. Exposure of transport sector to LNG will reduce petrol consumption by billions of gallons, stabilise foreign exchange reserves, reduce inflation and urban pollution. Talking to transporters, he said that the government should consider bringing sales tax on imported gas from 5% to zero to make it viable for the private sector as increasing demand of gas companies has been discouraging many. He asked the government to pay more attention to LNG as its price will slide in the summer while there is no chance of notable price hike in the next 10 years as world’s regasification capacity is set to get a boost of 75% in the next five to seven years.
Published in The Express Tribune, May 28th, 2015.