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Iranian gas still best option for Pakistan: PBIF
ISLAMABAD: Pakistan Businessmen and Intellectuals Forum (PBIF) President and former provincial minister Mian Zahid Hussain said that breakthrough in nuclear talks between Iran and the western powers, expected within days, would have a positive impact on global peace, regional trade and the local energy sectors.
Speaking to the business community on Saturday, Hussain said that revoking sanctions on Iran after the final deal would help energy starved Pakistan to boost its economy by importing natural gas through 700 km pipeline.
He claimed that the Iranian gas is still the best and cheapest option for Pakistan to revive the limping economy.
“The USA didn’t allow Pakistan to import gas from Iran for long and refused a civilian nuclear deal which hit Pakistan’s economy and US ratings,” the PBIF President noted.
He said that importing gas from Turkmenistan is difficult and plans to import gas from Qatar through pipeline is yet to see light of the day, therefore, Pakistan should renew efforts to bring the Iranian gas.
The PBIF president said Iran could also help Pakistan by providing cheap Liquefied Natural Gas (LNG) and Liquefied Petroleum Gas (LPG), which would save a lot of foreign exchange.
“After lifting sanctions on Iran, India and China would be also willing to get gas from Iran which would help Pakistan earn handsome transit amount. Iran has 80 million population, consumer base equal to Turkey, mineral resources equal to Australia, 9% oil of the world’s and 18% natural gas, therefore, it cannot be ignored,” he added.
Hussain said that initial agreement between Iran and the western nations reduced oil prices by 4% in the oversupplied oil market while final agreement would allow Iran, the country with fourth largest oil reserves, to revive its paralysed economy.
ISLAMABAD: Pakistan Businessmen and Intellectuals Forum (PBIF) President and former provincial minister Mian Zahid Hussain said that breakthrough in nuclear talks between Iran and the western powers, expected within days, would have a positive impact on global peace, regional trade and the local energy sectors.
Speaking to the business community on Saturday, Hussain said that revoking sanctions on Iran after the final deal would help energy starved Pakistan to boost its economy by importing natural gas through 700 km pipeline.
He claimed that the Iranian gas is still the best and cheapest option for Pakistan to revive the limping economy.
“The USA didn’t allow Pakistan to import gas from Iran for long and refused a civilian nuclear deal which hit Pakistan’s economy and US ratings,” the PBIF President noted.
He said that importing gas from Turkmenistan is difficult and plans to import gas from Qatar through pipeline is yet to see light of the day, therefore, Pakistan should renew efforts to bring the Iranian gas.
The PBIF president said Iran could also help Pakistan by providing cheap Liquefied Natural Gas (LNG) and Liquefied Petroleum Gas (LPG), which would save a lot of foreign exchange.
“After lifting sanctions on Iran, India and China would be also willing to get gas from Iran which would help Pakistan earn handsome transit amount. Iran has 80 million population, consumer base equal to Turkey, mineral resources equal to Australia, 9% oil of the world’s and 18% natural gas, therefore, it cannot be ignored,” he added.
Hussain said that initial agreement between Iran and the western nations reduced oil prices by 4% in the oversupplied oil market while final agreement would allow Iran, the country with fourth largest oil reserves, to revive its paralysed economy.