Pakistan International Bulk Terminal Limited (PIBTL) alongwith JS Petroleum is all ready to set up an LPG import facility at Port Qasim, Karachi.
Pakistan has taken the initiative of starting the mechanism for spreading the infrastructure for global trade since it has began establishing the terminals for oil, gas imports and the development of a secondary ship navigation channel at Port Qasim, Karachi.
As per a report, Port Qasim Authority (PQA) Chairman—Asad Rafi Chanda described to a delegation of journalists during their visit to PIBTL on Tuesday that it was working for the development of another natural ship navigational channel.
Mr Chandna said that you would be seeing important developments occurring in the next four to six months. Other than, the formation of other terminals for the facilitation of importers and exporters was also in the making to include a terminal for oil import.
And PIBTL is working on the addition of a liquefied petroleum gas (LPG) import facility at Port Qasim besides the one it manages for commercial coal operators and is the only terminal that is authorized to run operations in Pakistan.
The PIBTL CEO—Sharique Azim Siddiqui while responding to a query said that its board of directors had given affirmation for the making of the project in the near past and it is predicted to cost nearly $30 million.
Regarding this, PIBTL is in process to get the approval for this project from PQA.
International Finance Corporation (IFC)—an investment arm of the World Bank holds 10-11 per cent of the shareholding in PIBTL.
PIBTL is working along with JS Petroleum to establish an LPG import infrastructure. Mr Siddiqui stressed that they were transporting coal through roads presently, however, plans are underway to send it through cargo trains to upcountry.
Both the institutions have targeted to establish the facility before the arrival of next winter since LNG remains a vital fuel for the local users who are devoid of gas owing to the shortage or the deficiency of gas pipeline facility in winter season.