ISLAMABAD: Global commodities trader Gunvor Group has expressed its “keen” interest in investing in Pakistan’s petroleum sector, Prime Minister Shehbaz Sharif’s office said on Monday.
The statement came after Sharif’s meeting with Gunvor Group Chairman Torbjorn Tornqvist and Total Energies Vice President Oceania & Southeast Asia Mehmet Celepoglu
During the meeting, the prime minister highlighted the rapid reforms that were underway to increase investment and business activities in Pakistan, according to PM Sharif’s office.
“Chairman Torbjorn Tornqvist expressed the Gunvor Group’s keen interest in investment in the petroleum sector of Pakistan,” it said in a statement.
The prime minister was informed that the Gunvor Group had signed an agreement in August to acquire 50 percent shares of Total Parco Pakistan Limited, a subsidiary of French oil giant Total Energies.
A joint venture between Total Energies and Pak-Arab Refinery Limited in Pakistan, Total PARCO Pakistan Limited has a retail network of more than 800 service stations and is involved in fuel logistics and lubricants.
“The prime minister directed the relevant authorities to provide all possible facilities to the Gunvor Group,” Sharif’s office said.
Since avoiding a default last year, Islamabad has been making attempts to boost foreign investment and trade to drive economic growth in the South Asian country.
In recent months, Pakistan has reached multiple investment deals with a number of countries, mainly the Gulf states, in infrastructure, energy, maritime, ports and other sectors.
Pakistan says global commodities trader Gunvor Group ‘keen’ to invest in petroleum sector
https://arab.news/5gqyk
Pakistan says global commodities trader Gunvor Group ‘keen’ to invest in petroleum sector
- Last month, Gunvor Group signed an agreement to acquire 50 percent shares of Pakistan’s Total Parco oil marketing company
- PM Shehbaz Sharif informs Gunvor Group chairman of reforms undertaken to increase foreign investment in Pakistan
China backs Pakistan in fight against militancy after deadly Balochistan attacks
- China is a major ally and investor in Pakistan and has pledged over $65 billion in major infrastructure projects, including in Balochistan
- Chinese Foreign Ministry spokesperson Lin Jian says ‘we mourn for lives lost, and our hearts go out to injured and those who lost loved ones’
ISLAMABAD: China condemns the recent attacks that killed more than 200 people in Pakistan’s southwestern Balochistan province, a Chinese foreign ministry spokesperson said on Tuesday, reaffirming Beijing’s support for Pakistan in its fight against militancy.
The Baloch Liberation Army (BLA) group launched coordinated attacks in several cities across Balochistan on Saturday, killing 33 civilians and 17 security personnel. Officials said 117 militants were killed in skirmishes and follow-up operations.
Balochistan, which borders Iran and Afghanistan, is the site of a decades-long insurgency waged by Baloch separatist groups who often attack security forces, foreigners and non-local Pakistanis and kidnap government officials.
China is a major ally and investor in Pakistan and has pledged over $65 billion in investment in road, infrastructure and development projects under the China-Pakistan Economic Corridor (CPEC).
“China strongly condemns the [Balochistan] attacks... We mourn for the lives lost, and our hearts go out to the injured and those who lost their loved ones,” Chinese Foreign Ministry spokesperson Lin Jian said at a press briefing on Tuesday.
“China firmly opposes any form of terrorism and will as always firmly support Pakistan in combating terrorism, maintaining solidarity and social stability, and protecting the safety of the people.”
Chinese nationals working in Pakistan have often been targeted by militants, particularly in the southwestern Balochistan province, where China is developing a deep seaport that is touted as the crown jewel of CPEC.
Interior Minister Mohsin Naqvi said last week the attacks, claimed by the separatist Baloch Liberation Army (BLA), were planned from India. New Delhi rejected the allegation as “baseless,” saying Islamabad was attempting to deflect attention from its internal challenges.
Balochistan is home to vast reserves of minerals and hydrocarbons. Separatist militant groups such as the BLA blame Islamabad for exploiting Balochistan’s natural resources and denying locals a share in them. The military and civilian government reject these allegations and say they are investing in the province’s development.
