BISINISS WORLD NEWS

ISLAMABAD: Pakistan and Oman reached consensus to making joint Business Council, Geo News reported Wednesday.

Pak-Oman Joint Ministerial Commission (JMC) decided in its 6th session that Oman would provide $45 million grant for construction of Gwadar International Airport and other development projects.

It has also been decided that Oman Oil Company will make investment of $19.4 million in Pakistan’s energy sector.

The Pakistani delegation was headed by Hina Rabbani Khar, minister of state for finance and economic affairs, whereas Oman’s delegation was led by Mohammed Bin Nasser Al Khasibi, secretary general for Ministry for National Economy, Oman.

Addressing a joint media briefing, Khar said both sides agreed to enhance collaboration between the trade bodies of Pakistan and Oman for promoting trade and investment. She said a Memorandum of Understanding (MoU) for establishment of Joint Business Council between Pakistan and Oman would be signed shortly.

“Working Groups of experts from both countries in the fields of commerce, agriculture, livestock and fisheries have been established to further enhance cooperation in these sectors,” she said adding that Oman will hire its additional requirement of manpower from Pakistan, on priority basis. State Minister said that Ministry of Labour and Manpower and the Omani Authority would sign an MoU soon to materialize the proposal.

She further added that Oman sought assistance from Pakistan Railways for construction of Railways in Oman. “Pakistan will provide assistance in planning, designing, consultancy services, construction and operation of railways, etc,” she maintained.

Pakistani side requested support from Oman side for early finalization of Free Trade Agreement (FTA) with Gulf Cooperation Countries (GCC). The Omani side pledged to support Pakistan to ink FTA with GCC.

Mohammed Bin Nasser Al Khasibi, secretary general for Ministry for National Economy, Oman, said that the JMC meeting would open new ways of cooperation between two countries. “The formation of joint business council will result in enhancing people to people contact,” he said.