LAHORE: The local business community has lauded the proposed agreements with the Chinese and Russian governments for laying the Gwadar to Nawabshah and Karachi to Lahore liquefied natural gas (LNG) pipelines,.
According to a press release, Pakistan Industrial and Traders Front (PIAF) Chairman Irfan Iqbal Sheikh said that China would lay Gawadar-Nawabshah LNG pipeline at an estimated cost of $1.5 billion while Russia would lay Karachi-Lahore pipeline at a cost $2 billion. He further informed that both pipelines would be completed by the end of 2017, and would supply 1.2 billion cubic feet of gas per day.
In phase one, work on LNG terminals in Gawadar and Karachi, each with a capacity to carry 600 million cubic feet of LNG, will start, while in phase two, their construction will be completed.
Sheikh said that it was a good omen the government was already working on various energy projects, most of which would be completed in 2018. PIAF chairman said the business community had attached high hopes with the present regime, which, he said, was taking right measures to bring the economy back on track. He said that various initiatives of the government were yielding desired results.
“Massive cut in petroleum prices are an ample proof of the government’s commitment to the country,” he added.
GCCI President Sameeullah Chaudhry said that energy was engine for the economic growth, and its demand was growing day by day; therefore the government would have to work on a war footing to enhance power generation in the country, keeping in view the future needs.
He stressed that not only the ongoing energy projects should be completed at the earliest, but work on new projects, including Kalabagh Dam, should start without any delay.
Terming Kalabagh Dam lifeline of the country’s manufacturing and agriculture sectors, Sameeullah said that those who were opposing its construction were not well wishers of the country. He urged the government not to take any kind of pressure and start work on the dam in the larger interest of the country.
