Pakistani private sector proposes $100 mln investment in Yemen LPG project

KARACHI: Pakistani private sector has proposed investment of about $ 100 million in LPG  gas extraction  project in Yemen to export LPG to Pakistan. This decision was taken at the 6th session of Pak-Yemen Joint Ministerial Commission (JMC) meeting held in Sana’a from December 28 to 29, 2010.According to  Honorary  Consul General of Yemen in Sindh and Advisor to Prime Minister on Textile  Dr. Mirza Ikhtiar Baig, who attended the JMC, a four- member technical committee including representative from Ministry of Oil and Minerals, Yemen has been constituted.Prime Minister Yousuf Raza Gilani headed Pakistan delegation which also included Mir Hazar Khan Bijarani, Minister for Industries and Production.Both sides agreed to establish Pak-Yemen Investment Company for the promotion of investment. The Yemeni Minister of Industry and Trade Yahya Y. Al-Mutawakel and Pakistani counterpart, Minister for Industries Mir Hazar Khan Bijarani,  have agreed to negotiate Free Trade Agreement (FTA) between the two countries.Dr. Ikhtiar Baig also took up the matter of holding the meeting of Pak-Yemen Joint Business Council of Federation of Chambers, established in 2006 as per an agreement signed by Dr. Baig and his Yemeni counterpart. It was also decided to promote cooperation in the field of healthcare, agriculture, fisheries, education, technical training, industry  and infrastructure.The next Pak-Yemen JMC will be held next year in Islamabad – APP