ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet at Finance Division has approved the proposal to exclude new Liquefied Natural Gas (LNG) terminals and associated facilities from application of Third Party Access (TPA) and allowed amendment in article 6.2(a) of LNG policy, 2011.
According to press statement issued by finance minister, Federal Minister for Finance and Revenue Miftah Ismail presided over the ECC meeting.
The Ministry of Energy (Petroleum Division) had submitted a summary on amendments in LNG policy 2011 for exemption from mandatory TPA to new LNG Terminals.
It was argued that the gap between gas supply and demand in the country was widening resulting in gas load management affecting economic activities.
Under the circumstances and to diversify the LNG import infrastructure, there was a need to support and encourage foreign/private investment in the new LNG terminals at their own costs and risks to meet the growing demand of RLNG in the country.
The ECC approved the proposal considering the objectives of attracting investment in LNG import terminal facilities.
ECC also decided that ban on all non-essential and luxury items may be lifted for which the Ministry of Commerce had presented a summary before the committee.
On a summary submitted by Ministry of National Food Security & Research on allocation of 300,000 MT of wheat for Utility Stores Corporation (USC), the ECC directed Ministry of National Food Security & Research for resubmission of summary after incorporating complete details of incidental charges and comments of Finance Division.
