KARACHI: Minister for Economic Affairs Sardar Ayaz Sadiq said that 8th Intergovernmental Commission (IGC) would lay foundation of ‘new relationship’ between Russia and Pakistan in different sectors including energy, economy, trade, technology, education and business to business transactions. Addressing news conference at conclusion of three-day IGC meeting here Ayaz Sadiq said during these days subjects of mutual interests had been discussed, ranging from rail transportation, food security, aviation, education, oil and gas, natural resources, finance, opening of financial arrangements between two countries and many other subjects.

Minister of State for Petroleum Musadik Malik said that Pakistan would begin importing crude oil from Russia in March.

He said, “Few agreements of mutual cooperation would be signed and some of them were in pipeline. “Follow-up of these developments is going to be key factor in implementation of these projects,” he added. He expressed gratitude for Russian government for agreeing to suspend debt service for Pakistan during this critical time. He appreciated international community for helping affected communities by recent floods. However, much more was needed to be done for rehabilitation of people, he added.

Earlier, Inter-Governmental Commission of Pakistan and Russia continued deliberations and reached an agreement to form working groups and further existing cooperation between two countries in diverse fields.

Experts of two countries held technical sessions and debated on possibilities to further deepen bilateral cooperation. Russian side observed that energy sector was main focus because its Energy Minister Nikolai Shulginov was himself leading negotiations.

Published in The Daily National Courier, January, 21 2023

Like Business on Facebook, follow @DailyNCourier on Twitter to stay informed and join in the conversation.