LNG deal: Talks with KSA expected during PM’s visit

ISLAMABAD: Energy-starved Pakistan is likely to discuss a Liquefied Natural Gas (LNG) deal with Saudi Arabia during the scheduled visit of Prime Minister Shehbaz Sharif next week, well informed sources told Business Recorder.

Prime Minister Shehbaz has assigned the Planning Commission the task of steering efforts of Government of Pakistan towards strengthening bilateral cooperation with the Kingdom of Saudi Arabia (KSA).

With regard to import arrangements for LNG from KSA, the Petroleum Division has constituted a working group to negotiate the details. The Ministry of Foreign Affairs, which is finalising agenda of PM’s meetings in Saudi Arabia, will take the lead and arrange a meeting with Saudi side on priority basis.

A meeting held in Planning Commission reviewed the status of initiatives and projects being dealt with various organizations/ Ministries/ Divisions.

The meeting highlighted importance of improving bilateral cooperation with the KSA and asked the representatives of relevant Ministries/ Divisions to update the forum on the latest status of each of the initiatives.

After detailed discussion, it was decided that BoI, MoFA and Power Division will apprise forthwith regarding the latest status of 31 projects already shared with KSA. Finance Division will be kept in the loop.

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With regard to collaboration in Alternate Energy, Deputy Chairman Planning Commission asked the Petroleum Division to offer KSA the existing incentives available in the policy instead of seeking details of incentives.

Concerned Ministries/ Divisions will get feedback from KSA regarding CRBC; it was also decided that MoFA will share the outcomes and follow up actions of the first meeting of the Supreme Coordination Council. Concerned Ministries/ Divisions will start preparatory work for the agenda of second Meeting of the Council.

With regard to enhanced share in expected jobs in KSA, MoFA, MoP & HRD and other concerned ministries will make joint efforts. Efforts will be enhanced to send first 250 certified workers to KSA before the forthcoming visit of the PM.

Regarding Investment Conference in Pakistan, Bol and MoFA will take the lead. MoFA will get updated status of 31 projects from KSA. BoI is making efforts to convene a multilateral investment conference during 2022.

Regarding draft executive programme on media cooperation, representative from M/o Information and Broadcasting apprised that it has been approved from the Cabinet and matured. The National Heritage and Culture Division will provide an update regarding draft Executive programme on culture cooperation. If agreements are ready to be signed they may be pitched for signatures during the Prime Minister’s visit.

Representative from Narcotics Control Division stated that an agreement on counter narcotics has to be ratified by KSA. Actions required from Pakistan are completed.

It was also decided that the Interior Division will follow up upon MoUs on combating crimes and transfer of prisoners whereas Bol will submit a one-pager on G2G initiatives. A proposal for developing new SEZs will be shared with KSA.

Copyright Business Recorder, 2022