For the flexible purchase of LNG from Azerbaijan, Pakistan and Azerbaijan have inked a framework agreement.
Pakistan signs LNG agreement with Azerbaijan: Prime Minister Shehbaz Sharif was present when Pakistan LNG Limited and Azeri Company SOCAR signed their deal in Lahore today.
The Prime Minister stated during his speech that this arrangement has a one-year lifespan with the option of an additional year.
According to the agreement, he said, Azerbaijan will provide Pakistan with one LNG shipment each month for acceptance or rejection. He claimed that if Pakistan refuses to take the shipment, there will be no financial consequences.
The deal was hailed by the prime minister as a significant turning point in Pakistan and Azerbaijan’s friendship. He specifically expressed his gratitude to the President of Azerbaijan for his crucial contribution to this accord.
The Prime Minister stated we have given Azeri airline permission to land in Islamabad, Lahore, and Karachi, alluding to his recent fruitful and productive meetings with the President of Azerbaijan. This is a significant advancement for promoting travel, business, and delegation exchanges between the two nations.
“Shehbaz Sharif Invites Azerbaijani Horticulture Specialists, Discusses Bilateral Collaborations and Power Tariff Increase”
Shehbaz Sharif has also invited a delegation of horticulture specialists from Azerbaijan to visit Pakistan. He claimed that in order to make the landscapes of Karachi, Peshawar, Quetta, and Lahore as stunning as those in Baku, we want to benefit from their knowledge.
At the time, the Prime Minister stated that they increased the power tariff in accordance with the IMF deal.
However, he made it clear that this rise won’t affect more than 63% of all domestic consumers. He said that 31% of consumers had also received partial subsidies.
The ambassador of Azerbaijan stated that both nations are expanding their collaboration in a variety of sectors, including energy, defence, IT, and transportation. He stated that preferential trade negotiations between the two parties are also ongoing and expressed optimism that they would be successful in this area as well.