ISLAMABAD: The Cabinet Committee on Energy (CCoE) considered a proposal of the Petroleum Division regarding reduction of port charges on the Liquefied Natural Gas (LNG) by the Port Qasim Authority (PQA) based on independent assessments.

The CCoE met with Federal Minister for Planning, Development, and Special Initiatives Asad Umar in the chair in Islamabad on Thursday.

The committee considered a proposal of the Petroleum Division regarding reduction of port charges on LNG by PQA based on independent assessments.

The proposal also emphasised the need for development work at Port Qasim as an independent assessment.

The CCoE approved the proposal to conduct an independent assessment for better competitive rates.

The committee noted that rationalisation of various charges at the Port will benefit the end consumers, through reduction in cost of the LNG. The CCoE directed the Ministry of Maritime Affairs to immediately start infrastructure development work, using the financial resources available with the Port Qasim Authority. The Committee noted that improvement in Port Infrastructure and facility should be the single priority of the Port Qasim Authority.

The meeting was attended by Federal Minister for Information and Broadcasting Shibli Faraz, Federal Minister for Maritime Affairs Syed Ali Haider Zaidi, SAPM on Petroleum Nadeem Babar, Abdul Razak Dawood, Advisor to the Prime Minister on Commerce and Investment, and officials of various divisions.

Copyright Business Recorder, 2021