ISLAMABAD - Former premier and PML-N senior leader Shahid Khaqan Abbasi has resigned from the Economic Coordination Committee (ECC) over differences on how to purchase LNG from Azerbaijan. The development comes as Prime Minister Shehbaz Sharif on Friday said those criticising and backstabbing Finance Minister Ishaq Dar had no room in the PML-N.
It is reported that Abbasi was against the government-to-government agreement and advocated LNG imports through a private company. Under the recently-signed agreement, Pakistan will buy one LNG consignment every month at an undisclosed rate. It has the power to reject or accept the shipment but Azerbaijan would have to offer on monthly basis.
On June 14, Finance Minister Ishaq Dar-led ECC had given a go-ahead for “the framework agreement between PLL and State Oil Company of Azerbaijan Republic (SOCAR).” The decision was given ahead of Prime Minister Shehbaz Sharif’s visit to the Central Asian state. A day before the decision, Petroleum Minister Musadik Malik had said that Azerbaijan would be supplying one LNG cargo every month at a cheaper price than the market. Azerbaijan’s SOCAR Trading will fulfil the LNG.
