Business community term PM visit to Qatar highly successful
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.