Russian investment to help balance energy mix, Political struggle hampering foreign Investment in KP, FATA.


(23 November, 2015)

Former President FPCCI Senator Haji Ghulam Ali on Monday welcomed increasing cooperation between Pakistan and Russia stating that it is the result of efforts of Prime Minister Nawaz Sharif and COAS Raheel Sharif. Senator Haji Ghulam Ali, Presidential Candidate of Businessmen Panel (BMP) for FPCCI Elections 2016 said this during a reception given by Punjab’s Business Community.

President PBIF, President All Karachi Industrial Alliance and First Vice Chairman of the Businessmen Panel of FPCCI Mian Zahid Hussain further added that inauguration of Karachi-Lahore gas pipeline by Russian president will bring the two countries closer, balance energy mix and give a new lease of life for Punjab industry.

The former Provincial Minister, Mian Zahid Hussain continued that Russian oil and gas companies are interested to invest heavily in Khyber Pakhtoonkhwa and FATA but political struggle between centre and province is disheartening them which is a great disservice to nation.

It is amazing that Pakistani investors shy from the troubled region while Russians are willing to explore opportunities there but absence of cooperation among the concerned departments is frustrating them which amounts to promoting terrorism.

Mian Zahid Hussain said that KP wanted to establish an 800MW power plant, which was not allowed by centre while the project is still awaiting execution by federal departments.

Similarly, central departments are not allowing operation of different wells where infrastructure has been completed, blocks are awaiting nod of centre for exploration while transmission facility has been denied to a number of small power plants which amounts to punishing masses for political differences.

Federal and provincial government should be on the same page lest they are forced to do so as it is a matter of national interest, he said.


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