ISLAMABAD -  Taking the responsibility of multi-billion dollars Pak-Qatar LNG deal, Prime Minister Shahid Khaqan Abbasi on Thursday assured the Senate that the government is ready to share the hidden details of the contract provided the members keep them secret.

Responding to a Calling Attention Notice, moved by Sherry Rehman in the Senate, he said when we took over in 2013, there was an extreme gas shortage in the country.

Prime Minister Shahid Khaqan Abbasi said that gas is now available throughout the year to all kinds of consumers across the country due to government's concerted efforts.

Shahid Khaqan Abbasi said the contract signed with Qatar for import of LNG was between the two governments and the companies were authorised to purchase and sale.

He said this was the cheapest contract signed in the world in LNG sector during the last fifteen years.

He said under the contract, prices negotiation clause has been included under which any party can cancel the contract if not satisfied with the price.

The Prime Minister said that the contract was signed under his supervision and after fourteen months of negotiations and this is the most transparent, efficient contract that was signed in minimum time period.

Shahid Khaqan Abbasi said the contents of the contract are available publically and the government is ready to answer any question at any forum in this regard.

The prime minister told the House that it was the first-ever contract in which the clause of ‘re-negotiate’ had been inserted and that it took around 14 months to negotiate the agreement.

He said the government had floated a tender for five years and signed the 15-year contract after getting the price quotations and as per rules, the price slope would increase in accordance with the period of contract.

He said Qatar was a premium supplier of the LNG and that even Japan had also been getting LNG on 14.5 to 15 percent of the barrel.

He told the House that no country was getting LNG on the rate, Pakistan had been availing.

He said the fertilizer factories were non-functional, power plants were closed and gas was not available to CNG stations and to the domestic consumers.

The Prime Minister said in 2013, we were importing one million tonnes of Fertilizers but now we are exporting seven hundred thousand tonnes of fertilizers.

He said all the power plants are running throughout the year to meet the power shortage. The House was adjourned to meet again today.

Meanwhile, Prime Minister Shahid Khaqan Abbasi Thursday witnessed agreement signing ceremony of extension in the lease contract period of SAINDAK Copper - Gold Project between Saindak Metals Limited and Metallurgical Corporation of China here.

Earlier, Zhang Mengxing, President MCC, along with senior officials of MCC called on the Prime Minister. Chief Minister Balochistan Nawab Sanaullah Khan Zehri, Zhao Lijian, Charge de Affairs of Chinese embassy, senior officials of Petroleum Division and provincial government Balochistan were also present in the meeting, said an official statement.

He appreciated the efforts of MCC in developing the Saindak Project to its commercial operation stage. The project has employed over 2,000 Pakistanis and is also providing free services to the local villages at Balochistan, lauded the prime minister.

The Prime Minister stated that Chinese investment in Pakistan would pay long term dividends for the welfare of our countrymen. Our government has formulated investor-friendly policies and provides suitable work environment for foreign companies, he added.

President MCC Zhang Mengxing thanked the Prime Minister for the warm welcome and stated that Chinese companies are operating in a secure environment in Pakistan for the mutual benefits of both countries.

PM, PRESIDENT

FELICITATE XI JINPING

Prime Minister Abbasi felicitated Xi Jinping on his re-election as General Secretary of the Central Committee of the Communist Party of China.

The Prime Minister acknowledged that the world marvelled at the generational transformation China has achieved since the initiation of the reforms and opening up process in 1978.

China, he said, has not only achieved the status of second largest economy of the world but has also realized the miracle of bringing 700 million people out of poverty in a time span of one generation.

China’s efforts to realize a just, equitable and harmonious global governance, based on shared prosperity and win-win cooperation, represent the aspirations of the developing world. The Belt and Road initiative and China-Pakistan Economic Corridor are the hallmarks of the spirit of this win-win cooperation, he said.

The Prime Minister underscored that Pakistan-China relationship enjoys full support from all segments of society in Pakistan. The people and government of Pakistan stand ready to take our bilateral comprehensive strategic cooperative partnership to new heights.

President Mamnoon Hussain also congratulated Xi Jinping on his re-election as the General Secretary of the Central Committee of the Communist Party of China.

The President admired that under the paramount banner of the Communist Party of China, the brave and resilient people of China have travelled a long journey of historic transformation.

Under the visionary leadership of President Xi Jinping, China has regained its place as global economic and military power, he said.

“The achievements of the Chinese people are a source of inspiration and guidance for the developing countries,” he added.

The President highlighted that the “Belt and Road initiative” presents a practical solution to the uncertain global economic and political landscape, of which China-Pakistan Economic Corridor is a flagship project.