LAHORE, July 24 (Online): Prime Minister (PM) Shehbaz Sharif has said Pakistan will purchase one cargo of LNG from Azerbaijan monthly.
The powers to purchase cargo will rest with Pakistan and if it is not purchased then no fine will be imposed. Scaling up the electricity tariff was one of the harshest conditions of IMF, he said this while addressing agreement signing ceremony in petroleum industry between Pakistan and Azerbaijan here Monday.
He held this is very important day with reference to relations between the two brotherly countries. The life of this agreement is one year which can be extended for further one year.
The agreement has been signed between the two countries. As per agreement Pakistan will purchase one LNG cargo per month. Later company will offer one cargo of LNG each month and it will be up to Pakistan to either accept the cargo or not. There will be no financial penalty if Pakistan does not accept cargo, he added.
Alluding to his recent productive and fruitful discussions with the President of Azerbaijan, the Prime Minister said we have given approval to Azeri airline to land in Islamabad, Lahore and Karachi. This is a big step forward to promote tourism and investment and exchange of delegations between the two countries.
Citing to increase in electricity tariff PM said this debate is going on since the last one or two days that we have hiked power tariff. I want to tell that we have not enhanced power tariff happily. There was a stringent condition among IMF conditions that power tariff be increased.
We had to enhance power tariff under compulsion. I made it clear its financial burden will not be placed on the people.
The hike in power tariff will not be applicable to the consumers consuming 200 units. Partial subsidy has been afforded to 31 percent consumers. The cost of electricity has been increased by Rs 5.75 per unit, he added.
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