The Economic Coordination Committee (ECC) has decided that there will be no Gas Load Shedding this winter. The meeting, chaired by Finance Minister Asad Umar, decided to inject 150-200mmcdf in the system and import LNG to cover up the gas shortage.
Gas load shedding, especially in Punjab and Balochistan, accompanies winter every year due to a shortage in the system. Every year authorities attempt to overcome the shortfall, yet the issue has persisted.
The last meeting had discussed the issues pertaining to Gas Load Shedding and LNG terminal construction and the production of gas from the Dhok Hussain One Field. The ECC had approved a supply of 10mmfc gas from Betam field and 12mmfc from Dhok Hussain One Field. The ECC on Tuesday also approved a plan to issue Islamic bonds with an aim to scale down the circular debt of the country.
The ECC also allowed the Power Division to avail Islamic funding to pay off circular debt for which a committee has already been formed. The committee will decide on the procedure for the Islamic funding. According to sources, approximately Rs100 billion in loans would be taken from Islamic banks.