The ECC met under the chairmanship of Minister for Finance and Revenue Senator Muhammad Aurangzeb at the Finance Division, Islamabad, and was attended by Minister for Petroleum Musadik Masood Malik, Minister for Industries and Production Rana Tanveer Hussain, Chairman FBR, Chairman SECP, Federal Secretaries, and senior officers from concerned ministries and divisions, News.Az reports, citing Pakistani media.
Based on the summary of the Petroleum Division, the apex economic committee approved the extension of the LNG Framework Agreement between Pakistan LNG Limited (PLL) and SOCAR Trading for another three years.
Initially signed in 2023, the agreement allows PLL to procure one LNG cargo per month when required, without any financial obligations or take-or-pay commitments.
The extension aligns with Pakistan’s strategy for flexible LNG procurement based on seasonal demand, ensuring cost-effective energy solutions.
