LAHORE: Prime Minister Muhammad Shehbaz Sharif on Monday assured that no increase in power tariff for 60 percent domestic consumers, consuming upto 200 units monthly.
The prime minister further said that those 31 percent consumers of power tariff, consuming upto 300 units months would also be given a partial subsidy.
Speaking after witnessing the signing of a framework agreement between State Oil company of Azerbaijan Republic (SOCAR) and Pakistan LNG Limited (PLL) here on Monday, he said: “Due to the toughest conditions from the International Monetary Fund (IMF), the government had to raise the electricity prices but I stressed that the burden should not be passed on to the protected segments of the society.”
The framework agreement was signed by Managing Director PLL Masood Nabi and Chief Executive Officer of SOCAR Trading Mariam Almaszade.
Minister of State for Petroleum Musadik Malik, Governor Punjab Baleegh Ur Rehman, diplomats and government officials were also present on the occasion.
Under this framework agreement SOCAR Trading has offered LNG supply to Pakistan in the form of one cargo per month, on flexible terms and with the credit lines for 30 days after delivery of the cargo in one year contract which is extendable by another year.
Prime Minister Shehbaz Sharif said it was really a great day as “we are standing here as brothers from two brotherly countries Pakistan and Azerbaijan.
He expressed wishes to the President of Azerbaijan Ilham Aliyev whom he met in Baku few weeks ago and thanked him for finalizing this agreement.
“We had extremely productive and very fruitful discussion over there as to how to promote economic relations between the two friendly countries,” he said adding that immediately on his return to Pakistan, the Pakistan government extended approval to the Azerbaijan airline to land in Islamabad, Lahore and Karachi.
“This is a big step forward to promote tourism and investment and exchange of delegation between the two countries.”
The prime minister also appreciated and thanked Finance Minister Ishaq Dar, Dr Musadik Malik, secretary petroleum, Pakistan’s ambassador in Azerbaijan, CEO SOCAR Trading, and MD PLL for their work to conclude the framework agreement.
Ambassador of Azerbaijan in Islamabad on the occasion said this framework agreement would help further strengthen bilateral economic relations.
He said cooperation between the two countries had remained sustainable since start of the diplomatic ties between the two brotherly countries.
He said approval of giving airspace to the Azerbaijan airline would increase the number of visitors and business delegation between the two counties.
He informed that a team of horticulture experts from Azerbaijan was arriving here in Pakistan to share their first hand experience in the sector with the Pakistani authorities.
