KARACHI: Iqbal Dawood Pakwala, Vice President of the Federation of Pakistan Chambers of Commerce & Industry FPCCI, hailed the decision of Asif Ali Zardari President of Islamic Republic of Pakistan regarding Iran Pakistan Gas Pipeline and handing over Gwadar Port to China.
He said that these decisions will help the country in mitigating the gas and energy demand besides strengthening country’s economy for the coming generations. He further stated that Pakistan continues to suffer from huge energy deficiency and this directly affects our industry and GDP growth.
Currently, gas is the cheapest commodity for Pakistan to generate electricity and this gas pipeline will meet 50 percent of our energy demand. He lauded the decision of President for attending the groundbreaking ceremony of this Iran Pakistan gas pipeline on March 11, 2013.
He further said that these two historical decisions Iran Pakistan gas pipeline and Gwader port were taken without the any external pressure, which will further stable the economy of Pakistan not only in its region but in the entire world.
He asserted that the Gwadar port project was of great economic value for the country to become a hub of trade and commerce activities in the region and will bring progress and prosperity to the people of Balochistan.
He said on external side, the decision of handover this port to China will further promote bilateral trade with China. China is currently major trading partner of Pakistan with trade volume around US$ 10.56 billion.
“This decision not only promotes bilateral trade but also attract FDI from China. He said that Pakistan is confronting with many challenges particularly the energy crises which will be overcome by these decisions of President of Pakistan.”