Load shedding in June and July to continue, energy deficit would be overcome by 2018 - Khaqqan Abbasi

Pakistan government is working hard to eliminate energy shortages through setting up LNG and coal power plants and it is expected that in next fiver country’s LNG imports would be around 30 million tons per annum.

This was told by Shahid Khaqqan Abbassi minister for petroleum and natural resources while inaugurating three day Pakistan Oil and Gas Exhibition in Karachi. In next two years the LNG imports would be around 20 million tons from where in five years it would reach 30 million tons.

The present government has constructed first LNG terminal in record time of 11 months while construction of second terminal would be completed in next two months, the minister said.

“The main focus of the current government has been to eliminate or reduce volume of load shedding in the country, country by end 2018 would have 10,000 megawatt of electricity, i.e. 7000 MW from coal and 3000 MW from LNG”, Khaqqan said.

In June and July this year we would face issues of load shedding but the situation would improve from November onwards while from June and July 2018, the country won’t face menace of power outage, he said.

Pakistan in five years wanted to close down all the power plants run by furnace oil. Currently the electricity production from furnace oil constitutes less than 35 percent, the minister remarked.

Chinese companies wanted to be part of our bigger plan to LNG supply and installation in the country. The government would provide every possible support and help to foreign companies to install projects to help end load shedding and make country energy efficient.

Crude oil price likely to remain in the vicinity of $45 to $60 a barrel during the coming months, Khaqqan Abbasi told group of reporters in Karachi. The government has been trying to give maximum benefit to people through petroleum product prices.

However, still the petroleum products prices in Pakistan have been cheaper compared to countries in the region. The government has been trying to resolve the circular debt issue so that all the stakeholders would not face any financial woes.

“We have received number of complain from the consumers on adulteration of petrol and diesel as several dealers are mixing with kerosene oil. “The cabinet is not willing to increase the price of kerosene oil but we have chalked a plan to eliminate adulteration which would be handled soon.