PM Imran Khan is seeking LNG on credit from Qatar

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Prime Minister Imran Khan is looking for Liquefied Natural Gas or LNG on credit from Qatar.

The LNG on credit from Qatar will be a part of government’s efforts to deal with the payment crisis. Petroleum Minister Ghulam Sarwar Khan revealed that PM Imran Khan will seek the price cut on the country’s LNG deal with Qatar. However, the one year credit facility would enable Pakistan to defer payments for vital gas supplies.

Pakistan faces a serious strain on its equalization of installments, with the account deficit of about 5.9% of GDP and foreign exchange reserves adequate just to cover around 2 months of import payments.

Whenever concurred, LNG on credit from Qatar will pursue comparable understandings empowering conceded installments on oil supplies from Saudi Arabia and the United Arab Emirates, which have both concurred $3 billion deals with Pakistan.

The government of Pakistan also made talks with International Monetary Fund for the IMF loan. In addition, the government also did efforts to get funds from China as well as Arab countries.

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