Pakistan eagerly needs new projects of energy and water in order to fight back with the crisis being faced by the country. This was said by President Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain. He said that Pakistan is suffering from 40% of shortage of total gas demand.
Inter State Gas Systems (ISGS)is also working on the $10 billion Turkmenistan, Afghanistan, Pakistan and India (TAPI) gas pipeline to connect South and Central Asia. It will not only suffice the local gas demand of the country but will positively strengthen the regional ties amongst the neighboring countries.
These projects are called a game changer for Pakistan as they will not only lead to regional connectivity, but will also meet growing energy needs of the country.
Talking to the business community, he said that ISGS established to handle gas import projects and is already working on gas pipeline schemes like TAPI, has been nominated by Pakistan to execute the offshore pipeline project of $10 billion along with Russia’s leading energy company Gazprom, on the basis of memorandum of understanding signed between Pakistan and Russia.
Mian Zahid Hussain said Russia is eager to supply its huge gas reservoirs from Turkmenistan and Iran through Gwadar to Pakistan and India and planned to work on Karachi to Lahore gas pipeline.
Through this project Russia may attain other benefits including reaching to the hot waters of Arabian Sea through Gwadar port.
The industrial sector of the country after getting the requisite gas will timely supply the export orders thus increasing exports will bring stability to the balance of trade of the country and economy of Pakistan will get prosper.