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ICCI welcomes establishment of Gawadar refinery project
ISLAMABAD, Nov 2 (APP): The Islamabad Chamber of Commerce and
Industry here on Friday appreciated the agreement for establishment
of oil refinery in Gawadar to overcome the deficiency of oil products
in the country.
Addressing the executive members of the chamber, ICCI
President, Nasir Khan said that such mega projects will bring
prosperity in Baluchistan as well as in the whole country adding
that it would also help decrease unemployment.
He was of the view that 2006 and 2007 were the years of high
oil prices which hurt the economies of many countries adding that
demand of oil was rapidly increasing in Pakistan also due to
expansion of economy.
He said that Pakistan would need 18 million tonnes oil by 2010
and at present, the country's five refineries have been producing
11.2 million oil products a year.
"If Pakistan wants to sustain its high economic growth it
would have to address energy needs," The ICCI president said and
added that Gawadar refinery, which will be Pakistan's biggest
refinery, will have the capacity to process 300,000 barrels of oil
per day.
He said that Pakistan can increase its interaction with the
Middle East and Central Asian countries after the completion of the
Gawadar refinery project.
He was of the view that strategic location of Balochistan can
play significant role in helping the country emerge as a potential
energy resource for all Asia.
"The province is ideally situated at place where from the
energy and trading needs of other countries in the Asian region can
be catered easily," he remarked and added that Gawadar was situated
atop the shipping lane through which at least 60 per cent of the
world's oil passes.
Among others, the members who attended the meeting included
Vice President ICCI, Muhammad Hussain, Munawar Mughal, Mian Shaukat
Masood, Khalid Malik, Munawar Iqbal, Saif-ur-Rehman, Abdul Ghaffar
Chaudhry and Majid Shabbir.
APP
ISLAMABAD, Nov 2 (APP): The Islamabad Chamber of Commerce and
Industry here on Friday appreciated the agreement for establishment
of oil refinery in Gawadar to overcome the deficiency of oil products
in the country.
Addressing the executive members of the chamber, ICCI
President, Nasir Khan said that such mega projects will bring
prosperity in Baluchistan as well as in the whole country adding
that it would also help decrease unemployment.
He was of the view that 2006 and 2007 were the years of high
oil prices which hurt the economies of many countries adding that
demand of oil was rapidly increasing in Pakistan also due to
expansion of economy.
He said that Pakistan would need 18 million tonnes oil by 2010
and at present, the country's five refineries have been producing
11.2 million oil products a year.
"If Pakistan wants to sustain its high economic growth it
would have to address energy needs," The ICCI president said and
added that Gawadar refinery, which will be Pakistan's biggest
refinery, will have the capacity to process 300,000 barrels of oil
per day.
He said that Pakistan can increase its interaction with the
Middle East and Central Asian countries after the completion of the
Gawadar refinery project.
He was of the view that strategic location of Balochistan can
play significant role in helping the country emerge as a potential
energy resource for all Asia.
"The province is ideally situated at place where from the
energy and trading needs of other countries in the Asian region can
be catered easily," he remarked and added that Gawadar was situated
atop the shipping lane through which at least 60 per cent of the
world's oil passes.
Among others, the members who attended the meeting included
Vice President ICCI, Muhammad Hussain, Munawar Mughal, Mian Shaukat
Masood, Khalid Malik, Munawar Iqbal, Saif-ur-Rehman, Abdul Ghaffar
Chaudhry and Majid Shabbir.
APP