Pakistan unveiled a 2022-23 budget on Friday aimed at fiscal consolidation as it tries to convince the International Monetary Fund to restart much-needed financial support. But the lender has expressed concerns over the numbers, including its current account deficit.
Global energy prices have risen to record levels in recent months amid reduced Russian supply and resurgent demand in Asia. "Deferred payment obviously would be enormously beneficial for Pakistan in the way of cash flows, but that is not the only discussion that we are having," Malik said in an audio message, describing the discussions as "preliminary".In recent years Pakistan has increased reliance on LNG for electricity generation, but is facing widespread power outrages as procurement of the chilled fuel remains unreliable and expensive.
Pakistan already has two long term supply deals with Qatar - the first signed in 2016 for five cargoes a month, and the second in 2021, under which Pakistan currently gets three monthly shipments.