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Federation of Pakistan Chambers of Commerce and Industry hails decision of President Zardari regarding Iran Pakistan Gas Pipeline and handing over Gwadar Port to China

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Islamabad, March 09, 2013 (PPI-OT): Mr. Iqbal Dawood Pakwala, Vice President of the Federation of Pakistan chambers of Commerce and Industry (FPCCI) hailed the decision of Mr. Asif Ali Zardari, honorable President of Islamic Republic of Pakistan regarding Iran Pakistan Gas Pipeline and handing over the Gawadar 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 of Pakistan Mr. Asif Ali Zardari to attend 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) 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 added 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.

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 it 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 the Honourable President of Pakistan.

For more information, contact:
Syed Masood Alam Rizvi
Secretary General
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Karachi-75600, Pakistan
Tel: 0092-21-35873691, 93-94
Fax: +9221 3587 4332


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