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Business & Finance

Pakistan signs LNG agreement with Qatar, deal to save $300mn annually: PM

  • He said it took the government three years to negotiate this agreement which will help save $300 million annually.
Updated 26 Feb 2021

Prime Minister Imran Khan said Pakistan and Qatar have signed a new LNG import agreement for ten years.

The announcement was made after Prime Minister Imran Khan performed the groundbreaking of Central Business District (CBD) in Lahore on Friday. He said it took the government three years to negotiate this agreement which will help save $300 million annually.

Addressing a ceremony on the occasion, the Prime Minister said that the CBD will serve as a business hub that will help in wealth generation.

Imran Khan was confident that this project will help generate Rs 6,000 billion rupees. In the first phase, he said the project will generate Rs 1300 billion and the federal government will get Rs 250 billion in taxes.

The Prime Minister stressed that wealth generation projects are important to strengthen the economy enabling it to return the loans.

Imran Khan regretted that the economy was mismanaged in the previous two governments. He said we inherited difficult economic situation. "Current account has been in surplus in the last six months. I always say that our biggest asset is overseas Pakistanis. Overseas Pakistanis invest in new housing societies. Overseas Pakistanis are the biggest investors in the Ravi Urban Project and Business District project," he said.

He said our textile exports are also witnessing increase and new industries are being set up in the country.

Referring to Naya Pakistan Housing Project, the Prime Minister said this will provide affordable houses to the salaried class and the labourers.