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 to open border for stranded Afghan nationals

Updated 53 min 58 sec ago

Pakistan to open border for stranded Afghan nationals

  • On Kabul’s request, the border crossings will briefly reopen from April 6 to 9
  • Pakistan sealed its border with Afghanistan on March 16 following the Covid-19 outbreak

ISLAMABAD: Pakistan announced on Saturday it would briefly reopen its borders with Afghanistan to allow stranded Afghan nationals to return home, the foreign office said.
On March 16, the coronavirus outbreak prompted Pakistan to seal borders with its neighbors as part of stringent containment measures against Covid-19. The border closure affected huge numbers of Afghans in Pakistan for various reasons including trade, visiting families and seeking better medical treatments-- all of who were abruptly stranded.
But next week, at Kabul’s special request, Torkham and Chaman land border crossings with Afghanistan will be opened “for a specific period” between April 6 to 9 to facilitate Afghan nationals, the FO statement said.
“At the special request of the Government of Afghanistan and based on humanitarian considerations, Pakistan has decided to allow the exit of Afghan nationals in Pakistan wishing to go back to their country,” the FO statement read.
According to the latest tally from both countries, five people have died from coronavirus in Afghanistan and 270 have tested positive so far. In Pakistan, confirmed cases crossed 2,700 on Saturday with 41 reported deaths from the disease.
The foreign ministry added that as a neighbor and in view of fraternal bilateral relations, Pakistan remained “in abiding solidarity with the people of Afghanistan, particularly at this time of global pandemic.”
Earlier on March 20, Pakistan Prime Minister Imran Khan allowed Chaman border to open briefly, to facilitate the flow of foodstuff and perishable commodities to Afghanistan.