Need stressed for exploring chances of importing fuel from neighbouring countries

ISLAMABAD: Coordinator to Federal Tax Ombudsman Meher Kashif Younis Sunday urged the need for exploring the possibilities of importing cheaper oil and gas through pipelines from neighbouring friendly countries for economic growth and development in the country.

He said that the Turkiye-Syria earthquake is likely to affect the world economy including Pakistan by causing changes in logistics and transportation, even if it doesn’t affect global output.

Address seminar on “Turkiye-Syria earthquake impact on oil and gas supply around the world”, he said in the prevailing global scenario, it’s the high time since its inception Pakistan must strive hard for its own survival to fully explore the possibilities of importing cheaper oil and gas through pipelines from neighbouring friendly countries which is only way out to cope with financial crunch.

The event was held under the aegis of the Gold Ring Economic Forum, said a press release issued here Sunday.

In addition, he requested absolute priority in the agricultural sector over the modern scientific lines which are the backbone of the economy.

“Syria has a negligible little role in the wake of economic sanctions, adding that Turkiye located between Europe, the world’s largest energy importer and consumption market, and the Middle East and Central Asia-Caspian Sea, two oil and gas energy-rich areas, Turkiye is a global energy transportation hub, he stated.”

“On the other hand, Russia has been trying for years to export oil and gas to Europe bypassing Ukraine, while Central Asian countries and Azerbaijan plan to open new oil and gas export routes, especially to Europe through Turkiye, he added.”

He said furthermore, Azerbaijan, Turkmenistan, Kazakhstan and Uzbekistan needed to open new oil and gas export channels beyond the Russian pipeline network, because these former Soviet republics wanted to expand their energy supply channels.

He said that Pakistan should explore the possibilities of importing gas and oil through Russia and the Central Asia States at cheaper rates than global markets to strengthen its fragile economy.