ISLAMABAD - The Government is ready to defend LNG case in International Court of Justice (ICJ) if Dutch firm 4Gas moves court in case Economic Coordination Committee (ECC) of the Cabinet decides to invite fresh bids for multibillion dollars LNG Mashal Project. During an informal discussion with journalists, Secretary Petroleum Imtiaz Qazi, while replying to a question, said that the Government had already allowed private sector led by Saphire Energy and four other independent power producers in Punjab to import LNG at their own by using the gas network of state-run companies for power generation purpose at a transportation charge. The Ministry of Petroleum would table summary before ECC to immediately decide the fate of LNG project. We will ask ECC to expedite the process of LNG import, secretary said adding that ECC would be requested to complete the process of LNG import within six months if fresh bidding was to be invited for LNG Mashal Project. Petroleum Ministry will suggest the ECC either to award the contract to the already pre-qualified lowest bidder or start re-tendering process, he said adding that the ministry had already strengthened its hands legally so that even if re-tendering was opted, the Government would not face any problem in case the existing bidder challenged it in the international court. The Ministry of Petroleum said in working paper that the rising trend of petroleum prices was in the range of 3 to 9 per cent because of higher product prices in the international market. The petroleum ministry said the prices of motor spirit had increased by 9.2 per cent, Kerosene by 5.4 per cent, High-speed diesel by 5.8 per cent and furnace oil by 3.1 per cent. He said no government would like to increase prices to the level that they would not hurt the consumers. His argument was that the Government collected about Rs 250 billion taxes on petroleum products and if it provided subsidy on equivalent amount of revenue would be lost. In that case government would have to switch to currency printing, which will be more inflationary.