Business & Economy

NA body expresses satisfaction over terms and conditions for 2 new LNG terminals

ISLAMABAD         –        National Assembly Standing Committee on Maritime Affairs on Wednesday termed the terms and conditions on which two new LNG terminals are being installed at Port Qasim as excellent, saying the initiative by the Ministry of Maritime Affairs was appreciable. The members of the Standing Committee appreciated the ministry for bringing $500m Foreign Direct Investment (FDI) for the terminals. Mir Ameer Ali Khan Magsi chaired the 8th meeting of the Standing Committee on Maritime Affairs here which was attended by the Federal Minister for Maritime Affairs Ali Zaidi, Secretary Maritime Affairs Rizwan Ahmed, members of National Assembly and officials of MOMA. The members inquired about the details of the two new LNG terminals and they were briefed about the $10 million being paid for only the land.

Minister, Syed Ali Haider Zaidi told the committee that land is given in the limits of Port Qasim for setting up of new LNG terminals for an estimated amount of $10 million as concession fee and this will also help the companies for the provision of cheaper gas to people. The seafarers are facilitated by stopping the sign-in and sign-out requirement. The committee appointed Sub-Committee to probe into the issues and wrong doings in Karachi Port Trust. The committee also sought help of the Minister for resolving traffic issues on Kemari Road, Karachi. The companies are bringing $500 million FDI and government has not given any off-take guarantee. The initiative was lauded by the members and some remarked it as excellent as compared to the previous agreements.

The members were also briefed about Ministry of Maritime Affairs’ participation in International Maritime Organization (IMO) whereby, for the very first time in the history of Pakistan, a federal minister not only addressed the participants from 88 countries but also solicited the case of Pakistan effectively. Pakistan is appointing a permanent Representative in IMO and is planning to contest the elections in 2021. The committee members were also made acquainted with Indian Ocean Tuna Commission conference held in Pakistan hosted by MOMA and initiatives that will bolster deep sea fishing increasing our presence in the global seafood market.

The meeting was attended by Syed Ali Haider Zaidi Federal Minister for Maritime Affairs and MNAs including Muhammad Yaqoob Sheikh, Rana Muhammad Qasim Noon,  Faheem Khan,  Saif Ur Rehman, Abdul Shakoor Shad, Mir Khan Muhmmad Jamali, Jamil Ahmed Khan, Lal Chand, Usama Qadri, Azhar Qayyum Nahra, Qaiser Ahmed Sheikh,  Ch. Muhammad Shahbaz Babar, Abdul Qadir Patel, Kamal Uddin,  Begum Tahira Bukhari, Kesoo Mal Kheeal Das besides Secretary and other senior officers of the Ministry.

 

Article source: https://nation.com.pk/23-Jan-2020/na-body-expresses-satisfaction-over-terms-and-conditions-for-2-new-lng-terminals

Loading...

Related posts

Govt moving in right direction: IMF

Times of News

French FM to accelerate ‘strategic partnership’ with India visit

Times of News

Seismic activity: Country lags behind in the possess monitoring targets

Times of News