EpaperISB_21-01-18

Page 1

Monday, 18 January, 2021 I 4 Jamadi-ul-Sani, 1442 I Rs 40.00 I Vol XI No 200 I 52 Pages I Islamabad Edition

Gas crisis may continue as LnG firm backs out of deaL over hike in prices g

Gas supplIers have refused to provIde supplIes for the month of february

ISLAMABAD tLtp

G

as crisis in the country is likely to continue as international liquefied natural gas (lnG) suppliers have refused to provide supplies for the month of february in the wake of the recent massive hike in gas prices. this bid default of the suppliers is associated with the recent supply shortages leading to high price volatility in the spot market coupled with extra buying in north asia. according to details, dubai-based emirates national oil company (enoc) backed out of its commitment to provide lnG cargo. the company had won an lnG cargo contract for delivery on february 23-24 with the lowest bid at 23.4 per cent of brent, which is equal to $11.70 per 1 british thermal units (mmbtu),

but in the latest communication, the company said it would not be able to provide the lnG cargo to pakistan. petroleum division has confirmed that enoc has backed out of its lowest bid but the development would not heighten the gas crisis in the country as around eight cargoes have been arranged for february supply. the pakistan lnG limited (pll) advertised a tender on november 28, 2020, for procurement of two spot lnG cargoes to be delivered in february, 2021. on december 28, 2020, the bids were opened and the results were announced in accordance with the public procurement regulatory authority (ppra) rules. the award intimation was made for 10 days later on 7 January 2021. the first spot cargo in mid-february was awarded to socar trading uk ltd. the second spot cargo, for the last week of february 2021, was awarded to the low-

coronavirus in

pakistan

CONFIRMED CASES:

519,291

est bidder as per ppra rules, who conveyed inability to deliver as per its bid. the pll approached the second and third lowest bidders within the bid validity period, all of whom regretted to deliver the cargo at the prices they had offered in their respective bids. the cost of lnG in dollar per mmbtu in the open market has soared by over 100% and the government suspects the company has sold the lnG cargo meant for pakistan to another country or party at an expensive rate. the enoc will lose its bid bond of $300,000 and it is clear that other players have approached enoc with a better offer which is why it preferred losing the $300,000 bid bond. every lnG trading company has to deposit the bid bond of $300,000 which can be captured if any lnG supplier after winning the contract does not provide the lnG vessel. It is feared the azerbaijan company, socar, may also back out from the deal considering the price hike in the open market. but petroleum division insisted that socar will not back out of its lowest bid. the pll is taking all measures available under law and its tender process, including forfeiture of bid bonds, against the bidder(s) who failed to supply cargo as per their bids. earlier, lnG supplier vitol has also defaulted in december 2020 by providing half of the cargo instead of a full vessel to pakistan. there is a news in the market about numerous global companies defaulting on their bids, or even contracts in some cases, given the supply shortages and extremely volatile prices.

CONTINUED ON PAGE 05

Provinces, private sector can import, distribute approved vaccines: minister g

asad umar says federal Govt won't have monopoly over Import of covId vaccInes ISLAMABAD staff report

a day after the drug regulatory authority of pakistan (drap) approved the astraZeneca’s covid-19 vaccine for emergency use, the federal government said that it will not hold a monopoly on the import of vaccines. speaking to a private channel, minister for planning and development asad umar — who also heads the national command and operations centre (ncoc) which oversees the response to the virus — said that the private sector and the provinces and the administrative units are free to import the vaccines approved by the drug regulatory body. his statement came a day after the sindh government sought the centre’s permission to import early shots, fearing a delay in procurement will make the country a “pariah” one. addressing a press conference, sindh minister for health dr azra pechuho, while criticising the federal government for “delaying” the procurement, said that if the government

PTI provided donations’ details to ECP following SC order: Faraz g

InformatIon mInIster asks opposItIon partIes to submIt theIr own record for publIc scrutIny ISLAMABAD

LAST UPDATED AT 8:25 AM ON JANUARY 17, 2021

DAY'S DEATH TOLL:

43

RECOVERED:

NEW CASES:

2,521 DEATHS:

473,639 10,951 SINDH:

PUNJAB:

234,654 149,222 KP:

BALOCHISTAN:

AJK/GB:

ISLAMABAD:

63,339

18,569

8,606/4,882 40,019

CONTINUED ON PAGE 05

more inside

Aviation minister blames PML-N for expensive aircraft leases STORY ON BACK PAGE

staff report

federal minister for Information and broadcasting shibli faraz on sunday said that following the supreme court’s (sc) orders, the pakistan tehreek-e-Insaf (ptI) has provided all the details of the donations received by party workers and sympathisers during the 2018 election campaign. faraz was responding to allegations against the ptI in the foreign funding case and to the opposition parties’ demand that facts in the case be made public by the election commission of pakistan (ecp). he said that these entries total up to 40,000 in number, with names, addresses, telephone numbers, Id card numbers — all of them having been notarised and authenticated. the minister spoke about pakistan democratic movement (pdm), the 11-party opposition alliance, which is has planned on staging a protest outside the ecp on January 19, and said that it is a “sorry attempt by them to attempt to repeat a pack of lies so much

“continue[d] to sit back, our people will get sick and die”. responding to dr pechuho’s remarks, umar said: “from day one, the ncoc has adopted the policy that the federal government will not have monopoly over importing anti-coronavirus vaccines.” “provinces and private entities including hospitals have been allowed to import the vaccines that are approved by drap.” umar said that once the astraZeneca vaccine was approved by the regulatory authority, it may be imported by the sindh government if the latter could procure supplies from abroad. he further said that he encouraged not only the sindh government “but all provincial governments to import the vaccine from abroad”. responding to dr pechuho, the minister said that he wanted to clear any misunderstandings, stating that provinces were free as a matter of policy since day one to import vaccines after approval.

pdm meeting to mull postponement of further protests STORY ON PAGE 02

that it starts to seem like the truth”. the minster said that all transactions came “through proper banking channels and were deposited into banking channels”. he said the details are available for reporters to see after the press conference. faraz noted that under the orders of the apex court, and as has been the practice, after the election symbol is given to a party, it is bound to provide accounts for the past five years. “we have done [our due diligence] but now the matter has

fallen to them [opposition] to provide proof of their funding — ppp, pml-n and maulana fazlur rehman — and the big expenditures they make with the help of vested interest groups. “they do this so that when they come into power, they can facilitate these people in every illegal task […] such as sending money abroad or bringing money to pakistan, or money laundering […] they never responded to the scrutiny committee about all this,” he said.

CONTINUED ON PAGE 05

PTI laid foundation of South Punjab province by introducing secretariat: FM

STORY ON PAGE 02 in today’s issue

attention Some readers have complained that they are not getting the magazine with their newspaper copy. Please call or WhatsApp us at the following number to register a complaint. Contact: 0307-7338168 irfan.farooq@pakistantoday.com.pk


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.