Lng agreement with Qatar to boost economy, increase foreign reserves

ISLAMABAD: Liquified Natural Gas (LNG) agreement by government with Qatar would not only strengthen bilateral ties in diverse fields but also boost economy, revive industry and increase foreign reserves.

Analysts gave this opinion while talking in Radio Pakistan’s News and Current Affairs’ programme.

Speaking in Radio Pakistan’s programme, PML-N leader Maiza Hameed said: “Pakistan has signed LNG agreement with Qatar and this agreement has been signed on lowest price in the world.”

The imported LNG would be used to generate energy which would help Pakistan to overcome energy shortfall, she added.

PML-N leader Barrister Daniyal Chaudhry said,”Pakistan and Qatar have inked a $16 billion Liquefied Natural Gas (LNG) deal that would enable the country to import natural gas for 16 years and to meet its energy requirements.”

This agreement, she said, was a major milestone of incumbent government to overcome the energy shortfall from the country.

The agreement would revive the industrial sector of the country which would create new opportunities of employment in the country, she said added the LNG would also be used for fertilizer productions which would be helpful for the agriculture sector of the country.

Former President, Karachi Chamber of Commerce, Iftikhar Ahmed Gora said,the revival of industrial sector would increase the exports of the country which would ultimately boost up the economy by increasing foreign reserves.

Economic expert Dr. Abid Qayyum Sulehri said,”It is well thought out agreement in the sense that it is cheaper relative to other such agreements inked by South Asian countries.