POL products: Pakistan, India explore possibility of trade

RECORDER REPORT

ISLAMABAD: Pakistan and India on Monday held join secretary level talks to explore the possibility of trade in petroleum products.

Pakistani delegation was headed by Shabbir Ahmed Joint Secretary Ministry of Petroleum, while P Kalyanasundaram, Director (International Cooperation & Corporate Affairs), Ministry of Petroleum & Natural Gas, Government of India led the Indian side.

According to the Petroleum Ministry officials, both sides discussed the route, rates and sources of Indian petroleum products that may be imported into Pakistan, which later would be presented before the relevant ministries of both the countries for a final decision, sources added.

A statement issued from the Petroleum Ministry adds: Dr Asim Hussain Federal Minister for Petroleum & Natural Resources has said that there is potential for trade of petroleum products between India and Pakistan, and initiation of talks would prove to be a step in the right direction. He said this while meeting with the Indian delegation which is visiting Pakistan for discussing issues pertaining to trade in petroleum products.

The Indian delegation is headed by P Kalyanasundaram, Director (International Cooperation & Corporate Affairs), Ministry of Petroleum & Natural Gas, Government of India and comprises of business representatives from leading Indian companies including Petroleum Federation of India (PetroFed), IOCL, BPCL, HPCL, Reliance Industries, Essar Oil Ltd. The Pakistani delegation is being headed by Shabbir Ahmed Joint Secretary (International & Joint Ventures) Ministry of Petroleum & Natural Resources, Government of Pakistan, and other members include representatives of Ministry of Commerce, Ministry of Foreign Affairs, Ministry of Finance,  Ogra, Federal Board of Revenue, Pakistan State Oil, Parco and  Attock Refinery Ltd.

Dr Asim during his interaction with the delegation welcomed the Indian members to Pakistan saying that Pakistan is interested in import of furnace oil and diesel. He also apprised the visiting delegation regarding TAPI pipeline project.

Earlier, Secretary Petroleum, Muhammad Ejaz Chaudhry in his opening remarks said this dialogue will provide opportunity to Indian businessmen to explore potential areas for trade with Pakistan.

The two-day dialogue will discuss subjects such as identification of products, specifications, volumes, supply sources and transportation mechanism for trade between the two countries.