ISLAMABAD: The Public Accounts Committee (PAC) will examine the expensive spot R-LNG purchase by Pakistan LNG Ltd (PLL) during 2020-21 and also direct the relevant departments to fix responsibility.

An audit report for the year 2020-21 has revealed that delay in floating tenders for import of LNG spot cargoes and awarding contracts at higher rates by the PLL resulted in the losses of billions of rupees to the national exchequer. The audit report observed that due to poor planning, the tenders for the import of LNG were issued with delay and at higher rates.

The management also failed to keep in view the historical consumption trend in the winter season, as well as the price trend in the international market. Rana Tanvir Hussain will chair the PAC meeting on Wednesday (today) and it will be attended by officials of the Petroleum Division, PLL, and others.

Copyright Business Recorder, 2021