272,000 $ per day

This refers to the article, ‘$272,000 per day’ (April 19) by Dr Farrukh Saleem. The masterpiece almost solved the LNG mystery if read in conjunction with the writer’s previous summation also on the same topic. Leaving the corruption aspect aside, the whole scheme is a classic case of mismanagement. It is both amazing and alarming that no heads have rolled so far for the poor handling of the LNG project.
Legally speaking if the so-called FSRU (Floating Storage and Regasification Unit) is not available no charge can be levied. In all such agreements, non-utilisation charges are based on the full capacity usage of the facility. These charges go down proportionately if the stated capacity is not used as is the case with this project. While the 65 percent return in the LNG business is a big joke with taxpayers there is a need to audit the cost of FSRU that roughly should not have gone beyond $80 million.
Benjamin Kahn
Faisalabad