Oil tanker terminals: Oil companies reluctant to provide funds

PM’s adviser assures of timely construction with basic facilities.

ISLAMABAD:

Oil Marketing Companies (OMCs) have expressed their inability to provide funds for the construction of terminals for oil tankers at Zulfiqarabad and Machh near Hub Chowki Lasbela due to financial crunch.

In a meeting held on Monday under the chairmanship of Prime Minister’s Adviser on Petroleum and Natural Resources Dr Asim Hussain, representatives of oil companies said that they were facing financial constraints and would not be able to bear the cost of terminals.

Representatives of the All Pakistan Oil Tanker Owners Association (APOTOA), OMCs, City District Government Karachi and oil refineries attended the meeting.

Hussain assured the representatives of APOTOA that he would ensure the timely construction of terminals and make arrangements for necessary funds. The adviser hoped that the terminals would start functioning within a few months, at least with basic facilities.

He was of the view that the construction of a full-fledged tanker terminal required enormous funds and significant time which were difficult to manage, therefore instead of constructing state-of-the-art facilities, terminals with essential facilities like a levelled parking area, filtered drinking water, a rest area and a mosque would be constructed during the next few months.

He said that funds would be arranged with the support of OMCs, city district governments and petroleum ministry. These institutions will also monitor the progress and ensure proper construction of the terminals.

Published in The Express Tribune, May 17^th, 2011.