Hungary – Pakistan reiterate to strengthen mutual relationship

ISLAMABAD – Oct 17, 2018: In a significant move, Hungary and Pakistan have reiterated to strengthen mutual cooperation in improving their diplomatic and economic ties.

The development followed a recent meeting between Hungary’s Ambassador to Pakistan H.E. Mr. István Szabó and MOL Group's Regional Vice President for Middle East, Africa & Pakistan Ali Murtaza Abbas, with Mr. Shehryar Khan Afridi, Minister of State for Interior.

The Hungarian envoy briefed the minister about business prospects pursued by Hungary's different business groups in Pakistan. In this regard, he mentioned the role of MOL Pakistan as a flagship corporate entity of Hungarian-Pakistani bilateral cooperation, “MOL Pakistan is the largest Hungarian investment in Pakistan that contributes to addressing the energy demands of the host country, significantly”. The envoy also expressed Hungarian government's keen willingness to work with new governments in Pakistan at the centre and provinces.

MOL Group’s Regional VP, Mr. Ali Murtaza Abbas briefed the meeting about the role of MOL Pakistan in contributing significantly to Pakistan’s oil and gas exploration sector. For the last two decades, MOL Pakistan has been executing mega projects in Karak, Kohat, Mardan and other parts of Khyber Pakhtunkhwa in collaboration with the Government of Pakistan, he informed. “MOL Group considers Pakistan as a key asset and looks forward to expanding its business interests with the support of federal and provincial governments. Together, we would explore mutually beneficial prospects for both Pakistan and Hungary, that would also help mitigate the energy crisis in Pakistan,” Mr. Abbas added.

The state minister appreciated the role of MOL Pakistan in strengthening Pakistan’s energy sector. “Belonging to Khyber Pakhtunkhwa, I feel proud to see the investments that MOL Pakistan has made in the province. The Federal and Provincial governments highly encourage foreign investments and business groups will be provided with all the required facilitation and support to invest in Pakistan,” he said.

The minister reiterated to play his role in improving Pakistan-Hungary ties and to extend all possible support to foreign investors, including the provision of foolproof security.