Daily Times

WASHINGTON: Pakistan Ambassador to the US Ali Jehangir Siddiqui said importing more US natural gas is crucial to expanding US – Pakistan trade relations and Pakistan’s energy supply.

Speaking with US media in Washington D.C., Monday he said,purchasing more liquefied natural gas (LNG) from the US will allow Pakistan to boost its exports while maintaining the “fairness” and “parity” in the trade that Pakistan and Trump’s administration seek.

“Pakistan is on its way to becoming one of the world’s largest gas importers, and the US is well on its way to becoming the world’s largest LNG exporter,” Siddiqui, who was appointed ambassador in Marchsaid on Bloomberg Television.

“There is a lot of growth in our trade relation that could occur.” Siddiqui added.

For the first time since 1950, the US has become a net gas exporter. Exxon Mobil Corp. is collaborating with a group of Pakistan’s large businesses on a framework to construct and supply the country’s third LNG import terminal. Exxon has partnered with Pakistani consortium Energas to develop the import terminal, the minister, Mir Hasil Khan Bizenjo, told American media, Bloomberg in March.

Siddiqui, added a “major energy shortage” had impeded Pakistan’s capacity to produce – including its main export, textiles. More energy may boost Pakistan exports from software to agriculturewhile retaining US-Pakistan trade balance.

Over the past decade trade between the US and Pakistan has stagnated at around $.5.5 billion in goods a year. Pakistan chiefly exports textiles and leather products to the US and imports machinery and aircraft from the US

The American educated former banker and private equity executive stressed, Pakistan’s depleting foreign reserves, widening current and trade deficit reserves require much needed “structural changes.”

Siddiqui stressed,”peace in Afghanistan” is a top policy priority; he pushed back on US grievances that Pakistan fails to take a tough stance with terrorists operating within its borders against Afghanistan.

Recently the Financial Action Task Force, a global anti – money laundering agency, placed Pakistan on its terrorism financing “grey list” in an effort to thwart Islamabad’s support of terrorism and financial abuse.

Siddiqui highlighted Pakistan is constructing a second portion of a fence at its border with Afghanistan as an aid to security; a clear sign of Pakistan’s interest in ending the regional conflict.

“Until we complete this fence, it’s unreasonable to say we aren’t doing anything,” he said.

Published in Daily Times, July 11^th 2018.