(19 October 2015)
Pakistan Businessmen and Intellectuals Forum (PBIF) on Monday lauded Nawaz government to involving Russia in critical infrastructure projects and inking a pipeline deal.
The credit of improving relations with Russia in the fields of politics, economics and military cooperation goes to PM Nawaz Sharif and COAS Gen. Raheel Sharif, it said.
The recently signed agreement to transport LNG from Karachi to Lahore will settle energy crisis in the province while reviving energy-hungry industrial units, said PBIF President and former provincial minister Mian Zahid Hussain.
In a statement issued here today, he said that the deal will pave way for huge investment by Russian companies in various sectors including oil and gas.
He said that interest rates are at the lowest therefore Pakistan should not waste time to sign more infrastructure agreements with Russia as private sector is unable to initiate massive projects.
Mian Zahid Hussain said that getting optimum benefit from pipeline would require setting up more LNG terminals, removing officials in oil and gas sector which are against LNG and learn from the failures of LNG terminal deal which has resulted in massive losses which are being transferred to the masses.
He said that the current deal should not be allowed to overshadow the plan to import natural gas from Iran.
The business leader said that it is a win win deal as Pakistan will get energy while Russia will try to make Afghanistan peaceful so that militancy could not find its way in central Asia.