Russian minister in Islamabad to offer investment in heavy industry

Russian Deputy Energy Minister Anatoly Yanovsky and Pakistan's Ministry of Energy Additional Secretary Sher Afgan Khan sign a memorandum of understanding in Moscow, Russia on Sept. 27, 2018. (Photo by Russian Energy Ministry)
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Updated 10 December 2019

Russian minister in Islamabad to offer investment in heavy industry

  • Russians are interested in Pakistan’s energy, oil and gas, defense and steel sectors
  • Russian delegation is in Islamabad to attend Inter-Governmental Commission meeting

ISLAMABAD: Pakistan and Russia have agreed to expand business and trade ties, with investment in the energy, oil and gas and defense, Special Assistant to the Prime Minister on Petroleum Nadeem Babar told Arab News in an exclusive interview on Tuesday.

A delegation of 64 Russian officials, led by Trade and Industries Minister Denis Manturov, discussed the plans with Pakistani stakeholders at a meeting of the Pakistan-Russia Joint Working Group (JWG) on Energy in Islamabad on Monday.

“The Russian delegation is here to expand ties with Pakistan and engage in trade and business worth billions of dollars. They are interested in three major sectors – energy, oil and gas, and defense,” Babar said.

“In its first phase, Pakistan is going to auction 12 blocks of E&P (exploration and production) this month. Russians are very much interested in this auction,” he added.

“They have representatives of oil and gas companies with them in this delegation, who discussed different projects and showed interest in bidding for these blocks. We are very hopeful that they will take a few blocks in this auction which would be a first as they have never operated in Pakistan before,” he said.

Russian companies are also interested to build a gas pipeline from Karachi to Lahore, Babar said. “We hope to sign an agreement on this in the next two months as both sides have agreed on many things. We have many meetings on this and after this visit, we hope all remaining issues will be solved.”

He said Pakistan and Russia have also discussed an agreement, which was signed earlier, for the laying of more than 1,500 kilometers of an offshore gas pipeline that would transport natural gas from Russia to Pakistan.

Babar said Russia has also shown interest in the rehabilitation and upgrading of Pakistan Steel Mills (PSM) and wants to invest $1 billion. He added, however, that “other countries are also interested in Steel Mills.”

Sergey Vasiliev, director of Russia-Pakistan Business Forum who is in the delegation, told Arab News the visit will be good for removing trade and investment obstacles between the two countries, and for improving business to business contacts.

As Pakistan’s image has lately improved in Russia, “Russian businessmen are more interested in the oil and gas and energy sectors,” he said.

“We are discussing collaboration with Pakistan Steel Mills, so new technology from Russia can enhance its production. We are also ready to provide support in the field of agriculture, especially in increasing storage capacity for local food items and fruits.”

A major breakthrough in Pakistan-Russia relations was the signing of an agreement in Moscow on Dec. 4 by Russia’s Deputy Finance Minister Sergey Storchak and Pakistani Ambassador Qazi Khalilullah, whereby Pakistan will repay its $93.5 million debt to Russia, he said.

On Wednesday, the delegation is scheduled to attend an inter-governmental commission meeting at the Ministry of Foreign Affairs.

Pakistan’s role in Middle East deescalation hailed, says Qureshi

Updated 24 January 2020

Pakistan’s role in Middle East deescalation hailed, says Qureshi

  • Says the country’s diplomatic efforts have produced positive results in the region
  • Informs that US President Donald Trump is planning an exclusive visit to Pakistan this year

ISLAMABAD: Foreign Minister Shah Mahmood Qureshi told Arab News in an exclusive interview on Thursday that Pakistan’s mediation gesture during the Middle East crisis in the beginning of the year was applauded by Saudi Arabia and Iran.
“Both Saudi Arabia and Iran have appreciated Pakistan’s positive intentions behind the mediation effort,” Qureshi said, adding that the Saudi foreign minister, Prince Faisal bin Farhan Al Saud, told him during a meeting in Riyadh that Pakistan was “on the right track and all the regional countries should immediately join hands to deescalate the situation in the Middle East.”
On the directives of Prime Minister Imran Khan, Qureshi visited Iran, Saudi Arabia and the United States earlier this month to urge all stakeholders to practice “maximum restraint” in the wake of the killing of a top Iranian commander, Qassem Soleimani, in a US drone strike in Baghdad.
“With the help of other countries, Pakistan succeeded in its efforts to deescalate the Middle East situation. The country assured everyone it was willing to be partner in peace but could not become part of any other conflict,” Qureshi said.
“I also contacted foreign ministers of other regional states. Everyone understood the importance of convincing the countries concerned to exercise maximum restraint,” he continued.
“I met with the Iranian foreign minister and president. My meeting with President Hassan Rouhani lasted for an hour wherein we discussed how to defuse the situation and minimize tensions in the region,” the foreign minister said, adding: “I shared all the findings of my discussions in Tehran with my counterpart in Riyadh, saying it was Pakistan’s utmost desire to reduce tensions in the region.”
The minister continued that Pakistan wanted to minimize misunderstandings among Muslim states.
“Saudi Arabia is our very close friend while Iran is our neighbor. We don’t want tensions to mount among Muslim countries since that can be harmful for the whole Muslim Ummah.”
Asked about the expected visit of United States President Donald Trump to Pakistan, he said the American leader would visit Pakistan this year.
“President Trump has expressed his desire to pay an exclusive and independent visit to Pakistan which would not be linked to his visit to India. Pakistan is an independent and important country in the eyes of President Trump, therefore he desires to pay an exclusive visit to Pakistan,” Qureshi said.
The foreign minister said it now depended on President Trump’s “schedule where the visit will fit in.”
“It may come before or after the next US presidential election, but it will take place this year,” he said.