All Pakistan Business Forum Hailed Russian Investment In Energy Sector Of Pakistan
All Pakistan Business Forum (APBF) probed into the recent development in the energy sector where Pakistan inked an agreement with Russia for the construction of gigantic 1100 kilometers gas pipeline, all the way from Karachi ports to the north, Lahore. The pipeline is meant to facilitate the smooth supply of almost 12.4 billion cubic meters, of Liquefied Natural Gas (LNG), per year. The project will bring the US $ 2 billion investment in the energy sector of Pakistan by the Russians.
President APBF -Mr. Ibrahim Qureshi welcomed the Russian investors (Rostec) in Pakistan and praised the recent gas pipeline deal, signed between the two countries. “Although we do not have a promising history of trade, business or should I say of any sort due to some irresistible conditions throughout our relationship. But APBF will urge to consider this development as a step to usher a new era and a new phase of history that will be decorated with friendship, trust, and collaborations in business and development largely” said Mr. Ibrahim Qureshi.
The fact is that Russia has been a strong ally and especially a robust supplier of weaponry to India, whereas its relations with Pakistan remained cold and lacking in trust. Also, the restricted regional foreign policy choices of Pakistan brought the United States a close ally, surely on the state of Russia. Nevertheless, now Pakistan is opening up itself to the larger opportunities for investment and collaboration with international and regional State community. And ties building with Russia is no less important in the sense then.
Mr. Qureshi said, “It must not confine to the energy sector only, but we (Pakistan & Russia) should explore the trade and mutual business opportunities as well. And for that Pakistan and Russia must see each other as independent of all the previously assumed and presumed concepts of regional and international opponents or allies of opposites.” Mr. Qureshi further said that “APBF is keenly interested to bring business ties in concrete realization with Russian business communities as well. Pakistan is vast opportunity to invest in. And APBF will extend all its positive and progressive support to the regional and international business communities indiscriminately.”
While hailing the project Mr. Qureshi said, “Our Government has reached promptly while deciding to close a deal with Russian investor. For APBF, we see this era as ‘friendship with all and business expansion’ in Pakistan’s business and foreign policy.” He as a President to APBF also assured the Government of full support in building a business enabling environment in Pakistan and that it will contribute to its best while identifying and engaging with vital resourceful regional and international organizations and communities for the best development of Country’s economy.
It is to be noted here that the agreed gas pipeline will be constructed, invested and operated by the Russian Corporation better known as Rostec. Also for the early 25 years, Rostec will be in the position of ownership. However, Inter State Gas Supply (ISGS), controlled by Pakistan, will be the partner in the project. It is anticipated that the first phase of the project will be accomplished by the end of 2017. This project is a part of government policies to cope with the energy crisis in the country, on the short term- long term solutions combination. Whereas the positive gestures from the local business community, especially forums like APBF, is strongly affirmative in making Pakistan a real growing economy on sustainable pace.
All Pakistan Business Forum (APBF) is a vibrant business association, with over 2000 member from the highly reputed business community of all around Pakistan, which promotes and protects the interests of the business community and industry. It has the strong insight of national and foreign policy shaping and advising. Subsequently, it also suggests and advises the Government sector, regarding policy formulation, regulatory realignments and implementation in the commercial and industrial sectors of the economy. APBF has been consistently playing a positive role in the elevation of standards and facilitation of business activity in Pakistan. APBF as a representative of Pakistani business community has a decorated reputation in the foreign business spheres, both at regional and international level.