Government to set up revolving fund worth US$ 400 mln to pay for LNG imports
As the infrastructure required for the importation of Liquefied Natural Gas (LNG) moves closer towards completion, the government is now planning for the allocation of funds to pay for the regular shipments of LNG which are scheduled to start from April 2018. The government has now moved towards setting up a revolving fund worth US$ 400 million to pay for the first shipments of LNG.
According to officials, the funds are likely to come from the “Energy Security Fund” which had been previously established in 2015 and is now worth approximately US$ 440 million, mostly comprised of the profits made from selling fuel to the public consumers at higher rates against the drop in international fuel prices.
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