ISLAMABAD: Pakistan’s top anti-corruption body, the National Accountability Bureau (NAB), on Thursday arrested former Prime Minister Shahid Khaqan Abbasi, a spokesman for the agency said.
Abbasi is a senior vice president of the opposition Pakistan Muslim-Nawaz (PML-N) party of Nawaz Sharif who is serving a seven year sentence for graft. He was arrested on his way to Lahore to address a news conference along with PML-N President Shehbaz Sharif.
Last year, NAB ordered an inquiry into Abbasi over the alleged misappropriation of funds in the import of Liquefied Natural Gas (LNG) that the agency says caused the national exchequer a loss of about $2 billion. He is also being investigated for allegedly granting a 15-year contract for an LNG terminal to a ‘favored’ company. Abbasi rejects the allegations.
“They said they were from the NAB and took away Shahid Khaqan Abbasi with them,” Ahsan Iqbal, a senior PML-N leader, told reporters in Lahore. He gave no details of the grounds for the arrest.
Abbasi has served as a federal minister for petroleum in former Sharif’s cabinet and finalized an LNG import deal with Qatar. He then served for less than a year as prime minister following the resignation of Sharif in 2017.
Khan won power last year vowing to root out corruption among what he says is a venal political elite and views the probes into veteran politicians — including Sharif and ex-President Asif Ali Zardari — as long overdue.
The National Accountability Bureau’s campaign has become a topic of fierce political debate in Pakistan and its focus so far on the new government’s political foes has prompted accusations it is a one-sided purge. The government denies targeting political opponents.
Former PM Abbasi arrested over allegation of corruption on Qatar gas deal
Former PM Abbasi arrested over allegation of corruption on Qatar gas deal
- Last year NAB ordered inquiry into Abbasi over liquefied natural gas terminal project
- An anti-graft crusade promoted by the government has led to swathes of arrests of politicians
Pakistan to sell excess gas in international markets from Jan.1— petroleum minister
- Pakistan was reportedly exploring ways to reduce $378 million in annual losses from supply glut caused by excess fuel imports
- Move to sell excess LNG in international markets will limit $3.56 billion losses caused since 2018-19, says petroleum minister
ISLAMABAD: Pakistan will sell its excess liquefied natural gas (LNG) in international markets from Jan. 1, Petroleum Minister Ali Pervaiz Malik said, revealing the move would limit losses caused from a years-long supply gut.
Local and international media outlets had reported in July that Pakistan was exploring ways to sell excess LNG cargoes amid a gas supply glut that government officials said was costing domestic producers $378 million in annual losses. News reports had said Pakistan had at least three LNG cargoes in excess that it imported from Qatar and has no immediate use for.
Speaking to reporters during a press conference on Sunday, Malik said there was an excess of imported gas in Pakistan as the use of this fuel for power generation had reduced in the country during the past few months. He said Islamabad had been forced to sell the gas to local consumers, due to which the circular debt in the gas sector from 2018 till now had ballooned to around Rs1,000 billion [$3.56 billion].
“From Jan. 1 we will sell this excess fuel in international markets to reduce our burden and limit our losses of this Rs1,000 billion [$3.56 billion],” Malik said.
He said this move would also allow Pakistan’s state-owned enterprises in the sector to operate on their full capacity and generate profits and employment.
Malik also spoke of foreign oil companies that were ready to invest millions in the country in the near future.
The minister cited the recent visit of Turkish energy minister to Pakistan which had resulted in the state-owned Turkish Petroleum signing deals to carry out onshore and offshore drilling activities in Pakistan.
“Turkish Petroleum will also open its office in Islamabad, where 10 to 15 Turkish nationals will be working,” Malik said.
He also said that a delegation of the State Oil Company of Azerbaijan Republic (SOCAR) visit Pakistan this week, adding that it was also expected to collaborate with local companies for oil and gas exploration.
The minister said SOCAR was also opening its office in Pakistan.
“It will also invest millions of dollars in the construction of an oil pipeline from Machike to Thalian in collaboration with the PSO (Pakistan State Oil) and FWO (Frontier Works Organization),” Malik said.
