Russia’s invasion of Ukraine and a deep economic crisis has made imported gas unaffordable for Pakistan. Read more at straitstimes.com.
last year. A surge in global prices of liquefied natural gas after Russia’s invasion of Ukraine and an onerous economic crisis had made LNG unaffordable for Pakistan.
Despite power demand increasing in 2022, Pakistan’s annual LNG imports fell to the lowest levels in five years as European buyers elbowed out price-sensitive consumers. Pakistan’s foreign exchange reserves held by the central bank have fallen to US$2.9 billion , barely enough to cover three weeks of imports.
In addition to the coal-fired plants, Pakistan also plans to boost its solar, hydro and nuclear power fleet, Dastgir said, without elaborating.
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