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Reading: Russian bank offers $1bn credit line to Pakistan
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PhotoNews Pakistan > Business > Russian bank offers $1bn credit line to Pakistan
Business

Russian bank offers $1bn credit line to Pakistan

Web Desk
By Web Desk Published November 29, 2014 1 Min Read
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ISLAMABAD: Pakistan and Russia on Friday expressed their determination to remove all impediments in the way of finalising plans and projects already agreed upon.

In a joint statement issued at the conclusion of the third meeting of Pak-Russia Inter-Gove­rnmental Commission on Trade, Economic, Scientific and Tech­nical Cooperation in Moscow, the two countries reiterated to cooperate with each other and encourage private entrepreneurs.

Finance Minister Ishaq Dar led the Pakistan’s delegation while Russia’s was headed by Minister of Sport, Tourism and Youth policy Vitaly Mutko, who is also co-chair of the commission.

Both countries said they would cooperate in various projects related to oil and gas exploration; construction of floating LNG terminals, North-South gas pipeline from Gwadar to Nawabshah; sharing of seismic and geological data; enhanced oil recovery; LPG processing facility and gas purification plants; modernisation of oil and gas infrastructure; innovative technology solutions in coal industry; and building and renovation of various power generating units in Pakistan, especially those of Russian origin.

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