Islamabad delays $24 bln deal with France: Retaliates for JF-17 parts hold

[pandamonkey]

their is another post that is talking about the same thing. I posted this article their too. The reason for the delay is because of the PAKISTANI SUPREME COURT.
ISLAMABAD: Pakistan’s oil ministry said on Wednesday it would delay signing a contract with French company GDF Suez for the import of liquefied natural gas because the Supreme Court had decided to look into the deal.

The Supreme Court step followed media reports that Pakistan had lost $1 billion when senior Petroleum Ministry officials ignored the lowest bid by Fauji Foundation, an investment group run by former Pakistan military officers, and European company Vitol, for a 3.5 million-tonnes-a-year contract.

Any long-term delay in signing or a cancellation of the deal could hurt Pakistan’s efforts to ease an energy crisis, and hurt its image at a time when its sluggish economy badly needs foreign investment.

“No contract will be signed until the matter is disposed of by the court,” S.M. Zafar, a lawyer for the Petroleum Ministry, told reporters.
DAWN.COM | Business | Pakistan delays LNG contract with French company

---------- Post added at 02:46 AM ---------- Previous post was at 02:46 AM ----------

Rupee news is total trashhhhhhhhhhhhh

 

[pandamonkey]

the contract was awarded to a french company one another company had a lower bid and that company (Fauji) is run by pakistanis. I think the supreme court suspected Mr.10% hand in this deal and decided to intervine

 

[Gene]

French's are getting taste of their own medicine

It is not French which will suffer; it’s Pakistan which is going to suffer for this retaliation.pakistan is desperately need energy...
It is pity so see that the same country is asking USA to help it in the energy sector, again it is retaliating an energy deal with France, which might solve their energy pros.
If your country did this for revenge, then you can understand who the real loser is.

 

[nomansarwar]

well jf 17 deal will be back on track soon after india's mmrca deal finalized but till then pakistan should try to develop good relations in other sectors as well which may develop a positive impact on france so that in near future b4 turning down any deal they think twice , and doing retaliation on hold deal for jf 17 will only harm Pakistan because its pakistan who is desperate need of energy and foreign support not france.!

 

[Myth_buster_1]

rupee news is quite funny. moin is a laughing stock.

 

[ramu]

The Germans were the first to put you on hold thats why you went after Marlin class...

The Germans called you and told you? Since when you became an expert on the inside sources? Stop assuming!

Webmaster, that is a good question and good advice. Interesting comment from you about the source. Just one problem here. Do you take a similar stand when members gaze through crystals and make outlandish statements.

Do you take the same stand when people claim to know how Arjun tank tests were rigged by the Army with not an iota of proof ?

Another good one is the Dhruv. An assembled chopper from HAL with negligible input from India.

Do you take the same stand when the cryogenic engine that failed is described as russian engine assembled in India ?

I guess not.

 

[Peregrine]

Hi
its about time, will be great if Supreme court can intervene in U-214 issue as well. I say Pakistan cancels the deal with France irrelevant they give the avionics for Jf-17 or not, Pakistan should go with Italian radars as they might be able to offer AESA in coming years, French loyalty on the other hand is too dubious.

 

[AZADPAKISTAN2009]

Probbly if the contract is given to Chinese company they can make it for us in 5 billion dollars honest price

I mean 24 billion dollars seems a bit too much

We should put that in forigne reserves, and get Chinese engineers to get the project

Or may be even USA for helping us in War on Terror with F16 C/D and OHP Frigates

 

[ramu]

Probbly if the contract is given to Chinese company they can make it for us in 5 billion dollars honest price

I mean 24 billion dollars seems a bit too much

We should put that in forigne reserves, and get Chinese engineers to get the project

Or may be even USA for helping us in War on Terror with F16 C/D and OHP Frigates

Azad, 24 billion is not upfront payment and Pakistan for most projects defer the payment or repay it through IMF for current cash flow issues.

The deals value is based on consumption of energy and is not the money offered to France. The amount that will go to France is a fraction of the amount as noted by Zaki (I stll don't know why you are not an elite member!).

The hype created by euphoric journalism is there for all to see. No link between the action of Supreme court and the strategic interests of Pakistan is known and Pakistani ruppee news is worthless. The scandal when seen as a befitting reply to France is laughable. France does not need Pakistan but Pakistan needs investment, technology and energy. Today, the list of developing countries are large and options for companies like GDF Suez is many. Take a good look at the order book of this company and they are working close to full capacity and will be doing so in the next 5 years.

Pakistan is the cross roads of development and is thirsty of investment. Such litigations from supreme court though commendable will alienate foreign investment due to the perceived delay in execution / awarding of any project. And corruption is a given in most projects. Such intervention by law has not deterred the corrupt from continuing to do what they do best.

Pakistan is also energy hungry and this delay /cancellation will invite bidders. Any linkage of private players in the bid to their nationality and especially of an EU member will be looked upon in bad light.

And, no Pakistan is not in a position to deposit that amount in to foreign reserves as it does not have it in the first place. The current foreign reserves of Pakistan is ~$ 15 B.

 

[HAIDER]

Now the matter in supreme court that's why its delay...Pakistan need economic prosperity, no need weapon full of country. When people starving to death, then why weapon.

Like Napoleon said , i lost the war the day i see my soldiers eating rotten bread and drinking water from puddle stained with horse urine.

 

[hataf]

Probbly if the contract is given to Chinese company they can make it for us in 5 billion dollars honest price

I mean 24 billion dollars seems a bit too much

We should put that in forigne reserves, and get Chinese engineers to get the project

Or may be even USA for helping us in War on Terror with F16 C/D and OHP Frigates

than how that mr 10% get his share

 

[aks]

Azad, 24 billion is not upfront payment and Pakistan for most projects defer the payment or repay it through IMF for current cash flow issues.

The deals value is based on consumption of energy and is not the money offered to France. The amount that will go to France is a fraction of the amount as noted by Zaki (I stll don't know why you are not an elite member!).

The hype created by euphoric journalism is there for all to see. No link between the action of Supreme court and the strategic interests of Pakistan is known and Pakistani ruppee news is worthless. The scandal when seen as a befitting reply to France is laughable. France does not need Pakistan but Pakistan needs investment, technology and energy. Today, the list of developing countries are large and options for companies like GDF Suez is many. Take a good look at the order book of this company and they are working close to full capacity and will be doing so in the next 5 years.

Pakistan is the cross roads of development and is thirsty of investment. Such litigations from supreme court though commendable will alienate foreign investment due to the perceived delay in execution / awarding of any project. And corruption is a given in most projects. Such intervention by law has not deterred the corrupt from continuing to do what they do best.

Pakistan is also energy hungry and this delay /cancellation will invite bidders. Any linkage of private players in the bid to their nationality and especially of an EU member will be looked upon in bad light.

And, no Pakistan is not in a position to deposit that amount in to foreign reserves as it does not have it in the first place. The current foreign reserves of Pakistan is ~$ 15 B.

yeah france dont need us france only needs india

 

[pakistantiger]

france need monies and we need energey and parts for jf17 if they dont want to giv us parts y should we giv them contract for lng when chinese can do it in 5-10billions and pakistani company can do it 15 billion why should go french way giving extra 10 to 15 billion dollars we r not stupid good move supreme courte and tell me indian peoples why we dont need weapons and y india need weapons

 

[ramu]

yeah france dont need us france only needs india

Yeah, you are so entertaining. good job,

 

[Nahraf]

There is another thread discussing the same issue. I think theses threads should be merged.

http://www.defence.pk/forums/strate...53-did-pakistan-retaliate-against-france.html