Pak ready to import fuel from India on right price: Asim
18 October, 2012
Pakistan s petroleum adviser has said the country was willing to import diesel and jet fuel from India if the price is right.
“If the right prices are given, we have no problems importing (diesel and jet fuel),” Hussain said on the sidelines of a petrochemical conference in the Indian capital New Delhi.
India and Pakistan have been channelling their peace efforts into “trade diplomacy” in a bid to build enough trust to tackle thornier issues that divide them such as the disputed Himalayan territory of Kashmir.
While Pakistan has removed fuel imports from its list of goods that were banned from being imported from India, it allows import of diesel and jet fuel only by ship.
India, which has refineries across the border, is keen to take the road route to reach fuel-short Pakistan.
“I think a way could be found (to import via land) as import of (fuel) products is not banned,” Hussain said, adding that a team from India’s state-run Hindustan Petroleum Corp would soon visit Pakistan to discuss prices.
Pakistan has pledged to grant India “Most Favoured Nation (MFN)” status by year end, meaning Indian exports will be treated the same as those from other nations. India granted Pakistan MFN status in the mid-1990s.
Official bilateral trade is just $2.7 billion and heavily tilted in New Delhi’s favour, according to the most recent figures, but unofficial trade routed through third countries is estimated at up to $10 billion.