ISLAMABAD: Pakistan and Russia are set tomorrow, Friday, to formally sign an amended Inter-Governmental Agreement (IGA) for a flagship pipeline due to be built by Russia and stretching 1,100 km (680 miles) from Pakistan’s Punjab province to the port city of Karachi.
The project, earlier called the North-South Pipeline but recently renamed the Pakistan Stream Gas Pipeline Project, will deliver gas from Pakistan’s coastal regions to industrial areas in the north and will boost the country’s capacity to internally transport imported gas (LNG). It has been held up since 2015 due to a disagreement over fees and United States sanctions against Russian state conglomerate Rostec.
Last November, Russian officials visited Pakistan for three-day-long negotiations to finalize work on the project, the biggest infrastructure deal with Russia since the early 1970s when the Soviet Union set up the Pakistan Steel Mills industrial complex at Port Qasim, near Karachi. The project was also a main topic of discussion during Russian foreign minister Sergey Lavrov’s two-day trip to Islamabad last month.
“Soon after the formal signing [on Friday], the pipeline project will be renamed as Pakistan Stream Gas Pipeline (PGSP),” Pakistan’s The News newspaper reported. “The cost of the project has been estimated at $2.25 billion by Pakistani officials, which is not yet finalized by the Russian side.”
Under the revised agreement, Pakistan will own 74 percent stakes in the pipeline and Russia 26 percent. Pakistan’s Ambassador to Russia, Shafqat Ali Khan, will sign the protocol on the amendments to the agreement on behalf of Pakistan in Moscow on Friday.
“Once the amended agreement is signed, both sides will have to sign within 60 days the shareholding agreement, heads of agreement under various commercial arrangements and a Special Purpose Vehicle (SPV) company will also be constituted that will materialize the project,” The News said.
Indigenous natural gas contributes around 38 percent to Pakistan’s total primary energy supply mix. Pakistan produces around 4 billion cubic feet per day against an unconstrained demand of 6 bcfd and imports gas to meet the deficit, particularly when demand peaks in winters.
Pakistan has become an emerging buyer in the international LNG market over the last few years, with an increasing gap between demand and supply of gas.
The power sector is Pakistan’s largest natural gas consumer, followed by residential consumption and the fertilizer industry.
Pakistan, Russia to formally sign amended agreement on flagship gas pipeline tomorrow
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Pakistan, Russia to formally sign amended agreement on flagship gas pipeline tomorrow
- Project will stretch 1,100 km from Pakistan’s Punjab province to Karachi, will increase country’s capacity to internally transport LNG
- Project held up since 2015 due to disagreement over fees and US sanctions against Russian state conglomerate Rostec
Indian travel firms report drop in Turkey, Azerbaijan bookings over Pakistan support
- Both countries have remained popular destinations for Indians, but now bookings are down by 60%
- Indians are also canceling planned trips to the two countries after they openly supported Pakistan
BENGALURU: Indians are cancelling holidays in popular resorts in Turkey and Azerbaijan after the countries supported Pakistan during its recent conflict with New Delhi, two booking firms said. Ties between India and Pakistan nosedived after a deadly attack in Indian-administered Kashmir last month that New Delhi said was backed by Islamabad.
Pakistan denied involvement, but intense fighting broke out when India struck what it said were "terrorist camps" in Pakistan last week.
They agreed a ceasefire on Saturday which has largely held.
Turkey and Azerbaijan, popular budget holiday destinations for Indians, issued statements backing Islamabad after India's strikes.
"Bookings for Azerbaijan and Turkey decreasing by 60% (over the last week) while cancellations have surged by 250% during the same period," a spokesperson for MakeMyTrip said.
EaseMyTrip's Chief Executive Officer, Rikant Pittie, said the platform had seen a 22% rise in cancellations for Turkey and 30% for Azerbaijan "due to recent geopolitical tensions.”
Travellers had switched to Georgia, Serbia, Greece, Thailand and Vietnam, he added.
Another ticketing platform, ixigo, earlier said in a post on X that it would be suspending flight and hotel bookings for Turkey, Azerbaijan and China.
EaseMyTrip's founder and chairman Nishant Pitti said in a post on X that 287,000 Indians visited Turkey last year and 243,000 visited Azerbaijan.
"When these nations openly support Pakistan, should we fuel their tourism and their economies?" Pitti said.
Pakistan and Kuwait review trade, investment cooperation during bilateral consultations
- Fourth round of Pakistan-Kuwait Bilateral Political Consultations held in Kuwait, says Islamabad
- Pakistan has increasingly eyed trade, investment to ensure consistent, sustainable economic growth
ISLAMABAD: Pakistani and Kuwaiti officials reviewed their countries’ cooperation in trade, investment, human resource collaboration and other economic spheres, the Pakistani foreign ministry said on Wednesday, as the two sides held their bilateral political consultations.
Pakistan and Kuwait held the fourth round of their Bilateral Political Consultations (BPC) in Kuwait on Wednesday. The Kuwaiti delegation was led by Sameeh Essa Johar Hayat, the Gulf country’s assistant foreign minister (Asia Affairs) while Additional Foreign Secretary (Middle East) Shehryar Akbar Khan led the Pakistani side.
“The two sides reviewed the entire spectrum of bilateral relations including trade, investment, human resource collaboration, consular and people-to-people contacts with a view to further enhance bilateral cooperation,” the statement said on Wednesday.
It added that the two delegations also exchanged views on regional and international issues, and reaffirmed their commitment to continued cooperation and consultation.
“While expressing satisfaction over the upward trajectory in bilateral relations and the momentum of high-level interactions and exchanges, both sides agreed to further deepen engagement in diverse areas of mutual interest,” the Pakistani foreign ministry said.
It said that the next round of the BPC between the two sides will take place in Islamabad on mutually agreed dates.
Since narrowly escaping a default in 2023, Pakistan has eyed increasing foreign trade and investment with regional allies, especially Gulf countries.
Islamabad formed the Special Investment Facilitation Council (SIFC), a hybrid civil-military government body, tasked with attracting international investment in key economic sectors such as tourism, agriculture, livestock, mines and minerals and others.
Pakistanis call on Delhi, Islamabad to engage in ‘serious dialogue’ over Kashmir
- Attack in Indian-administered Kashmir sparked armed conflict between India, Pakistan last week
- Root cause of the conflict between two nations is disputed territory of Kashmir claimed by both
KARACHI: Residents in Pakistan’s largest city Karachi said on Wednesday that India and Pakistan must engage in serious dialogue over the Kashmir issue, as they resumed their daily routines four days after a ceasefire agreement between the two countries.
The spark for the latest chaos was an April 22 attack in Indian Kashmir that killed 26 people, most of them tourists.
New Delhi blamed the incident on “terrorists” backed by Pakistan, a charge denied by Islamabad. India and Pakistan have fought three major wars and been at loggerheads since their independence.
“The foremost matter is Kashmir itself. We, Pakistan, are clearly stating that we are ready to talk, and India must approach this with sincerity,” said Karachi resident Shams Keerio.
“Without serious dialogue that includes negotiations over Kashmir, these talks will not succeed.”
Another Karachi resident, Amir Nisar, said the issue should be resolved according to UN resolutions. He also called on India to respect the ceasefire brokered by Washington between the two states.
“If they do not respect it, then I believe that if a real war breaks out between Pakistan and India, it can lead to the loss of lives of millions of people,” he said.
“[Indian PM] Narendra Modi, being from a big country, should be aware that he should refrain from war.”
The two nuclear-armed nations have fought two out of three wars over the disputed Himalayan territory of Kashmir. India and Pakistan both claim territory in full but govern only parts of it.
One killed, 10 wounded in grenade attack on pro-army rally in Pakistan
- About 150 people in cars, motorcycles in Quetta were celebrating Pakistan's retaliatory strikes against India
- No group immediately claimed responsibility but suspicion is likely to fall on separatist Baloch Liberation Army
QUETTA: A suspected militant on a motorcycle threw a hand grenade at participants of a pro-army rally in southwestern Pakistan on Wednesday, killing at least one person and wounding 10 others, police and hospital officials said.
The attack occurred in Quetta, the capital of Balochistan province, said local police chief Mohammad Malghani.
He said about 150 people in cars and on motorcycles were heading to a hockey ground in the city for a government-organized event to celebrate the military’s recent retaliatory strikes inside India when the man threw a grenade at them.
Wasim Baig, a spokesman at the Civil Hospital, said at least two of those wounded were in critical condition.
No group immediately claimed responsibility, but suspicion is likely to fall on the Baloch Liberation Army, a separatist group that has waged a years-long insurgency in the province.
Pro-army rallies have been held across Pakistan since Sunday, when the United States brokered a cease-fire between Pakistan and India, which were engaged in one of their most serious confrontations in decades.
Pakistan resolves to enhance UAE ties into ‘mutually beneficial economic partnership’
- Shehbaz Sharif speaks to UAE President Sheikh Mohammed bin Zayed Al-Nahyan
- Pakistan PM thanks UAE for playing constructive role to defuse South Asia tensions
ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday reaffirmed his country’s resolve to strengthen Pakistan’s ties with the United Arab Emirates (UAE) into a “mutually beneficial economic partnership,” his office said in a statement.
Sharif’s government has moved closer to the UAE in recent months in its efforts to attract international investment and ensure stability for Pakistan’s fragile $350 billion economy.
In January last year, Pakistan and the UAE signed multiple agreements worth more than $3 billion for cooperation in railways, economic zones and infrastructure, a Pakistani official said.
Sharif spoke to UAE President Sheikh Mohammed bin Zayed Al-Nahyan over the telephone, the Pakistani Prime Minister’s Office (PMO) said. He noted “with great satisfaction” that bilateral cooperation between the two countries was progressing, especially in the areas of economy and investment.
“He [Sharif] renewed his strong resolve to transform the existing Pakistan-UAE ties into a mutually beneficial economic partnership,” the statement said.
Both leaders discussed Pakistan’s recent tensions with India which triggered an armed conflict between the two nations recently.
India and Pakistan pounded each other with missiles, drones, and artillery fire last week. The conflict erupted when India fired missiles into Pakistan last Wednesday after weeks of tensions over an attack on tourists in Indian-administered Kashmir on Apr 22. New Delhi blamed the attack on Pakistan, while Islamabad denied involvement.
US President Donald Trump announced Washington had brokered a ceasefire between the two states on Saturday after Pakistan launched retaliatory strikes.
“During their warm and cordial conversation, the Prime Minister conveyed profound gratitude for UAE’s diplomatic efforts and constructive role to defuse the recent crisis in South Asia,” the PMO said.
“He added the UAE had always stood by Pakistan, through thick and thin.”
Sharif’s office said he reaffirmed Pakistan’s commitment to uphold the ceasefire understanding, as well as its resolve to defend its sovereignty and territorial integrity at all costs.
“The UAE President welcomed the ceasefire understanding, while appreciating Pakistan’s efforts for peace,” the PMO said.
Separately, Sharif also spoke to UN chief Antonio Guterres to thank him for his efforts to defuse tensions in South Asia, the PMO said.
The UAE holds immense importance for Pakistan, given that it is Islamabad’s third-largest trading partner after China and the United States, and a major source of foreign investment, valued at over $10 billion in the last 20 years, according to the UAE foreign ministry.
It is also home to more than a million Pakistani expatriates. Policymakers in Pakistan consider the UAE an optimal export destination due to its geographical proximity, which minimizes transportation and freight costs while facilitating commercial transactions.
