Pakistan, India: Petroleum committee fails to make progress

Indian companies keen to export oil to Pakistan.


Kashif Hussain June 30, 2011

KARACHI:


Pak-India working committee, formed to promote bilateral cooperation in the petroleum sector, has not made any substantial progress because of absence of private sector from the body, a trade official said.


The Indian petroleum sector has expressed keen interest in exporting petroleum products to Pakistan and has offered to lay a 180km pipeline at its expense, said India-Pakistan Chamber of Commerce’s executive committee member Khurram Saeed while speaking to the media at the Federation House on Thursday.

He said the participation of private sector in negotiations was necessary for promotion of trade in the petroleum sector and a formal proposal would be sent to the government.

He said NL Mittal Group of India was interested in exporting petroleum products to Pakistan through a 180km pipeline from Bhatinda to Wagah border. “The group is eager to make heavy investment.”

He said Pakistan could fulfill its needs of petroleum products economically and conveniently by importing from India and for that petrol and jet fuel should be added to the positive list prepared for trade with Delhi. Diesel is already included in the list.

Saeed said India produced 180 million tons of petroleum products compared to its consumption of 150 million tons and exported the surplus to the US and Iran. Pakistan can easily meet its deficit of 10 million tons from India, which will cost less in terms of freight. Muneer said official trade between Pakistan and India had dropped from $3.5 billion to $1.8 billion while indirect trade through Dubai and Singapore was double that figure.







Published in The Express Tribune, July 1st, 2011.

COMMENTS (2)

First drink, don't think | 10 years ago | Reply This is something very good! If India and Pakistan develop heavy stakes in each other, both will be reluctant in destabilizing each other. Tata purchased an iron mine a few years back in Australia I guess, Pakistan has huge reserves of iron ore, I am sure they will be interested in investing here as it will be quite easy and cost effective for them to get raw materials from practically same geographic location! But this government of Pakistan, has taken oath not to do anything, even accidentally which might benefit Pakistan. Like Iran is ready to provide as much electricity as we want but they are not paying any kick backs so they aren't welcome. To half of the China, Gawader port is more easily accessible and is near as compared to Shanghai port and they are willing to invest in infrastructure to re develop and re shape silk route, but why take risk to develop Pakistan! Jiye bhutto Saen!
XX | 10 years ago | Reply Good opportunity for private sector. And will improve India-Pakistan peace by creating economic interdependency. Now if only someone can come out and show Indians that 26/11 was orchestrated by CIA & Mossad then we might just be getting somewhere: http://www.timesonline.co.uk/tol/news/world/asia/article6960182.ece http://www.mathaba.net/news/?x=625037 http://www.indianexpress.com/news/hotel-owner-blames-cops-for-headleys-missin/552343/
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