Islamabad, June 1: After Pakistan and Russia signed a contemporary settlement to put a fuel pipeline, prospects of Russian President Vladimir Putin visiting Islamabad for the very first time had been on the playing cards.
The mission, beforehand named The North-South Fuel Pipeline, has now been renamed as Pakistan Steam Fuel Pipeline, during which a fuel pipeline might be laid from Pakistan’s Karachi metropolis to Kasur. Pakistan: Heavy Rain, Thunderstorm Claims 10 Lives in Punjab’s Okara
It’s a flagship mission between the 2 nations, which intends to take away the reminiscences of rivalry of the Chilly Battle and produce each nations on the highway to bilateral ties.
Each Pakistan and Russia have been working to materialise Putin’s go to.
In April, Russian International Minister Sergey Lavrov visited Islamabad after a niche of not less than 9 years.
As per official particulars, Lavrov got here with a message that Moscow was keen to increase all doable assist to Islamabad and create pathways for bilateral relations.
Prime Minister Imran Khan has already prolonged a proper invitation to President Putin.
Specialists have stated that with the signing of the Pakistan Steam Pipeline settlement, the go to of President Putin has grow to be much more important and vital.
Pakistan is anxious to have President Putin inaugurate the groundbreaking of the fuel pipeline mission, which is anticipated to be held later this 12 months or in early 2022.
Pakistan and Russia are additionally searching for extra avenues of cooperation.
As per sources, Russia is eager on promoting arms to Pakistan, one thing it prevented previously due to opposition by India.
It’s pertinent to say that each nations have been holding common joint army workouts since 2016.
Russia and Pakistan are additionally in shut contact within the peace course of and ongoing regional safety points together with Afghanistan.
The Pakistan Steam Fuel Pipeline is a stepping-stone in normalisation of relations between the 2 nations, which has been strained for years because of Chilly Battle rivalry.
The mission was initially signed in 2015. Nonetheless, it couldn’t be initiated because of doable sanctions by the US on Russian corporations.
Initially, Russia was to constructed 100 per cent of the pipeline underneath the “construct, function and switch” mannequin.
Nonetheless, with the brand new and amended settlement, Pakistan may have not less than 74 per cent stakes.
The overall value of the mission is round $2.25 billion. It will likely be helpful in assembly the fuel scarcity in Pakistan’s Punjab province.
Analysts say that the mission not solely has financial significance but in addition holds nice strategic significance for Pakistan.
(The above story first appeared on LatestLY on Jun 01, 2021 04:44 PM IST. For extra information and updates on politics, world, sports activities, leisure and life-style, go online to our web site latestly.com).