KARACHI: Federal Minister for Commerce Khurram Dastagir Khan said on Wednesday that Pakistan and India need to improve diplomatic relations if they want to capitalise on trade potential.

Talking to the media at the office of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), the minister said that while there were hurdles from the Indian side, he hoped the visit of Indian foreign secretary next month would help break the ice.

Meanwhile, he said the progress of liquefied natural gas (LNG) terminal was satisfactory and the first shipment from Qatar is due next month.

Financial close for power projects of 10,400MW had been done and some of them would start generation by mid-2017, he said.

Around 3,600MW would be produced by PSDP-financed power plants using LNG, the minister said. Responding to a question, he said power outages may not end by 2017 but would be reduced.

The resolution of security and energy crisis would usher in a new era for trade and industry, he said, and added that despite multiple problems the government had succeeded in giving desired direction to policies.

Referring to the 9th Expo Pakistan, the minister said it would be better and bigger than before. He disclosed that his ministry was planning to hold events like Alishan Pakistan in major European cities, the first in London next year.

Talking about next budget, he said the government would start second round of consultative sessions with trade and industry from next month and try to change the taxation system radically.

Published in Dawn February 26th , 2015

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