Failure to receive bids for LNG, looming default threat testimony of PDM govt’s incompetence: Hammad

BusinessFailure to receive bids for LNG, looming default threat testimony of PDM...
  • Saying PML-N going to leave a big mess for next govt

ISLAMABAD: The Pakistan Tehreek-e-Insaf (PTI) senior leader Hammad Azhar said that the PDM government was inept and a constant embarrassment, which was evident from the fact that the government failed to receiver any bids for LNG or its solar power project amidst default seemed highly likely, saying PML-N was going to leave a big mess for the next government.

Hammad Azhar said that disastrous strategy and tactics by PDM government in the LNG market, as it gave away optionality for free to SOCAR; damaged global supplier relationships by using them for price discovery and embarrassed themselves by getting zero bids.Failure to receive bids for LNG, looming default threat testimony of PDM govt’s incompetence: Hammad

“But PM got a foreign trip and a photo opportunity. No hiding now that Pakistan faces an acute power shortage for rest of the year,” Hammad Azhar added.

The PTI senior leader alarmed: “Between July-Dec, Pakistan must repay an additional US$ 4 billion, which cannot be rolled over. With FX reserves likely below US$ 4 billion at the start of fiscal 2024, default seems highly likely.”

Hammad Azhar said that there was a very visible contempt for the common person in this government, clearly reflecting in their social, economic and political policies.

Hammad stated that the Senate Standing Committee on Finance was told in the meeting that 40 percent of textile mills have been closed in the last 11 months.

However, he said that it was not solely the case of textile mills, as whichever sector of industry ones picked up, they would find the same situation.

Mati
Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

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