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National Assembly's standing committee on petroleum and natural resources on Wednesday constituted a three-member sub-committee to probe distribution of LPG quota among the favourites in the previous regime. In a detailed briefing to the committee about Iran, Pakistan gas pipeline project, secretary petroleum said that some conditions on certain points have yet to be met with reference to this project.
If the project was implemented within a year, it would then take four to five years to supply gas, he said, adding there was a gap of one billion square feet in the demand and supply of LPG. Agreement with Iran, he added, would be signed in December to import 750 MMF LPG to bridge this gap. LPG was abundantly available in international market, therefore, other countries would be approached to import the remaining shortage of 250 MMA LPG, he added.
The committee, which met with Nawab Yousuf Talpur in the chair, was informed that OGDCL would make investment of $5 billion for exploration of gas and oil within the next five years. MNA Aftab Sheikh said that certain elements had established monopoly on LGP and the matter would be investigated.

Copyright Business Recorder, 2009

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