PESHAWAR: The leaders of business community and politicians of Khyber Pakhtunkhwa here Thursday welcomed signing of multi-billion dollars Liquified Natural Gas (LNG)'s agreement between Pakistan and Qatar and termed it a step forward to address the grave problem of energy shortfall.
They termed the LNG deal a landmark achievement of Prime Minister Nawaz Sharif and the Federal Government and said that it would surely revitalize the country's economy besides giving boost to industrial sector, commerce and business activities, agriculture and transport sectors.
While terming the LNG agreement is a game-changer for Pakistan, they said that it would not only help address the grave problem of power crisis but would also revitalize economy and create jobs for hundreds of thousands of people.
"People of all the federating units will equally reap its benefits," said Yousaf Sarwar, former President Khyber Pakthunkhwa Chamber and Industry (KPCCI) while talking to APP.
He welcomed the agreement between Islamabad and Doha and said LNG plays a very important role in economic growth of countries and Pakistan requires it for expediting process of economic development besides catering the high demands of gas for domestic and industrial consumption.
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 mitigating sufferings of domestic consumers and CNG sector.
The agreement would help save one billion dollars annually besides $600 million under the head of diesel cost to the national kitty.
The import of LNG from Qatar under the agreement will save billions of rupees to the national exchequer besides generating jobs opportunities for hundreds of thousands of people besides bolstering infant industries to get boom, said Yousaf.
The agreement will help generate economic activities in less developed areas besides giving new life to transport sector and ensure a clean environment, he said, adding LNG will provide cheaper fuel to industrial and domestic consumers of the country.
"Most of the people of Khyber Pakthunkhwa are associated with transport sector and the import of LGN from Qatar would provide cheaper fuel to transporters besides industrial and domestic consumers in 30 percent less cost, he informed.
The LNG would minimize dependence on CNG, furnace oil and petroleum products and transport sector in KP would get upward boom, he said.
He also welcomed the agreement for supply of around US one billion dollars worth of Liquified Natural Gas to Pakistan annually to meet its energy shortfall, adding that under the agreement, the Qatar Liquified Gas Company Limited would sell LNG to Pakistan State Oil Company Limited for next 15 years (2016-2031).
Sarwar said energy shortfall was the major issue adversely affecting the production of industrial units due to loadshedding and hoped that import of LNG from Qatar on cheaper rates would give boost to industrial as well as agricultural sectors.
"Prime Minister Muhammad Nawaz Sharif deserved full credit and appreciation for this landmark deal with Qatar," he remarked. Rushad Khan, Member Provincial Assembly and leader of PMLN also welcomed the Pak-Qatar LNG deal and said the initiative of PML-N leadership would usher a new era of development, progress and prosperity in the country.
Rushad Khan said Prime Minister Nawaz Sharif soon after coming into power, accorded high priority to address problem of energy shortfall and the present LNG deal was a step to this effect.
Terming the visit of Prime Minister to Qatar highly successful, Rushad Khan said Prime Minister Muhammad Nawaz Sharif has informed senior leadership and investors of Qatar about facilities and opportunities being offered by his government for investors.
He said during this visit, the Prime Minister has also invited the Qatar Investment Authority to explore the investment opportunities in Pakistan.
He said bilateral relations besides cooperation in diversified fields between the two brotherly countries would further strengthen.
The PMLN leader also welcomed the signing of Memorandum of Understandings (MoU) between Pakistan and Qatar for sale and purchase of LNG and cooperation in the fields of Radio and Television, Health and Academic Research activities.
He said these agreements would bring the two nations closer besides taking advantages from experiences and expertise of each others.
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