- The Government bureaucracy should totally withdraw from the LNG and shipping businesses. The existing rules of business involving the bureaucracy and PPRA rules render it impossible for the Management of the bureaucracy-controlled Companies like PLL, PSO, SSGC, SNGPL and PNSC to make timely decisions which are crucial for the profitable and efficient performance of these Companies.
- All the LNG, Petroleum and Gas Companies as well as the PNSC must be operated with complete autonomy under the control of their highly qualified, professional and ethical Boards of Directors and Management Team members with proven track records in the industry. Informed timely decisions by solid LNG and Shipping professionals in LNG trading, contracting and shipping carry the potential of earning and saving hundreds of millions of dollars for the Country.
- To achieve this end, the Government should adopt the Singapore model. Under this system, the Companies are owned by the Government but managed in accordance with established private and public sector Corporate Governance Rules and Guidelines to ensure their performance in accordance with the international industry standards and benchmarks.
SUGGESTIONS FOR LNG SECTOR REFORMS
