Busi­ness com­mu­nity term PM visit to Qatar highly suc­cess­ful

The Pak Banker - - NATIONAL -

The politi­cians and lead­ers of Khy­ber Pak­thunkhwa Cham­ber of Com­merce and In­dus­try (KPCCI) here Fri­day termed the visit of Prime Min­is­ter Muham­mad Nawaz Sharif to the oil rich Qatar highly suc­cess­ful and fore­saw sign­ing of multi-bil­lions' dol­lars' Liqufied Nat­u­ral Gas (LNG) agree­ment a "game changer" for Pak­istan. They said the LNG im­port from Qatar is a land­mark deal and would im­mensely help to meet the coun­try's grow­ing en­ergy de­mands for agri­cul­ture, in­dus­trial and do­mes­tic con­sump­tions.

While, con­grat­u­lat­ing Prime Min­is­ter Muham­mad Nawaz Sharif and his team for their role in turn­ing the much awaited agree­ment with Qatar into re­al­ity, they said im­port of LNG fuel is of great im­por­tance for Pak­istan to meet her en­ergy needs be­sides pro­vid­ing in­ex­pen­sive elec­tric­ity to in­dus­try, agri­cul­ture do­mes­tic con­sumers. Ak­bar Hayat Khan, Mem­ber Pro­vin­cial As­sem­bly and leader of PMLN talk­ing APP said the LNG deal was one of the great­est achieve­ments of the present elected Govern­ment for which the Prime Min­is­ter and his team de­serve ac­knowl­edg­ment.

He said peo­ple of all provinces in­clud­ing Azad Kash­mir and Gil­git Baltistan will be ben­e­fited from the LNG agree­ment while Khy­ber Pakhtunkhwa would be a main ben­e­fi­ciary of the deal as the peo­ple of the prov­ince are as­so­ci­ated with trans­port and agri­cul­ture sec­tors. Un­der the agree­ment 3.75 mil­lion ton LNG would be im­ported an­nu­ally from Qatar on govern­ment-to-govern­ment ba­sis on com­par­a­tive rates that would meet about 20 per­cent en­ergy re­quire­ments of Pak­istan. The deal would help im­prove per­for­mance of closed 2000 MW gen­er­a­tion units and three fer­til­izer plants be­sides re­duc­ing pres­sure on CNG sec­tor.

The agree­ment would save one bil­lion dol­lars an­nu­ally be­sides $600 mil­lion un­der the head of diesel cost to the na­tional kitty. He said due to prod­uct eco­nomic poli­cies of PMLN Govern­ment, Pak­istan's econ­omy has wit­nessed a great eco­nomic turn­around and the process of de­vel­op­ment has been ex­pe­dited. For­mer Pres­i­dent Khy­ber Pak­thunkhwa Cham­ber of Com­merce and In­dus­try, Yousaf Sar­war while terming the visit of Prime Min­is­ter to Qatar of great im­por­tance, said the im­port of LNG would re­vive the al­ready sick and closed in­dus­trial units.

He fur­ther said that the LNG is a cheaper fuel there­fore it would re­duce cost of many prod­ucts that are di­rectly or in­di­rectly linked with in­dus­tries and agri­cul­ture and would also pro­vide cost ef­fec­tive fuel to com­mon man against CNG. Sar­war noted that en­ergy short­fall was the ma­jor is­sue that was ad­versely af­fect­ing the pro­duc­tion of in­dus­trial units due to load­shed­ding, adding the gen­er­a­tion of elec­tric­ity through LNG in­stead of fur­nace oil would ul­ti­mately re­duce the prices of power and would also re­duce in­fla­tion and price hike in the coun­try.

He said due to high prices of petrol and CNG the traders were pay­ing huge cap­i­tal for trans­porta­tion of raw ma­te­ri­als from Karachi to Khy­ber and other ar­eas of the coun­try thus putting ex­tra bur­den on the com­mon man. Mem­ber Pro­vin­cial As­sem­bly Rusahd Khan and PMLN leader also termed PM visit to Qatar was highly suc­cess­ful and wel­comed the agree­ment for sup­ply of around US one bil­lion dol­lars worth Liqui­fied Nat­u­ral Gas to Pak­istan.

Rushad Khan said dur­ing his visit, the Prime Min­is­ter Muham­mad Nawaz Sharif boldly high­lighted Pak­istan's sus­tained ef­forts for re­gional and in­ter­na­tional peace and in­formed se­nior lead­er­ship and in­vestors of Qatar about fa­cil­i­ties and op­por­tu­ni­ties be­ing of­fered by his govern­ment for in­vestors.

PMLN leader Rehmat Salam Khat­tak said Pak­istan has strong ties with Qatar and would fur­ther strengthen af­ter the visit of Prime Min­is­ter. He said Pak­istan was now far bet­ter and mov­ing for­ward on road to progress and pros­per­ity in ev­ery field against 2013 and its eco­nomic turn­around was com­mended by the rep­utable mon­e­tary in­sti­tu­tions of the world. He said China Pak­istan Eco­nomic Cor­ri­dor Pro­ject and LNG deal with Qatar were one of the great­est achieve­ments of PMLN Govern­ment and th­ese projects af­ter com­ple­tions would change des­tiny of peo­ple.

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