ISLAMABAD - The Federal Minister for Finance, Senator Mohammad Ishaq Dar chaired a meeting at the Finance Ministry on Saturday to review the situation on the import of LNG.

The meeting took a detailed view of the availability of LNG, its pricing for the power sector, costing and the mechanism for making the payments for the imported fuel.

The chair was briefed that about 400MMcfd of LNG will be available to the country from April 2015. This import will help generating 1000MW of additional electricity and will provide stable system of base load for another 2000MW. On the other hand this will help reduce the price of electricity in the country along with saving $200 to $400 million annually from the import bill.

The Minister directed that the amount involved be ring fenced and proper mechanism for seamless payment be ensured.

The Minister, it may be added that it had been assigned the task by the Prime Minister to look into the matter regarding pricing of LNG and other related issues. Further discussion on this issue will take place in due course.