Iran-Pakistan pipeline: ‘Chinese can help finance project’

Govt looking for funds to complete venture: Pakistan Economy Watch.


Ppi August 27, 2011

ISLAMABAD:


Chinese companies should help Pakistan complete the $1.3 billion Iran-Pakistan gas pipeline project, according Pakistan Economy Watch (PEW) on Saturday.


The government is looking for foreign funds to complete the pipeline project but American opposition is keeping major donors away, said PEW president Dr Murtaza Mughal.

Pakistan should also raise part of the finances through domestic funding for which banks can make a consortium, he suggested.

Americans continue to stick to their stance despite a severe crisis in the country which shows that they are not concerned about our economy but their own geopolitical interests, added Mughal.

He said that US is ignoring the fact that gas contributes around 53 per cent in the country’s energy mix.

Mughal said that fuel shortages have forced the government to ration supplies, resort to gas outages in summer for the first-time and face protests.

The pipeline, which will provide 21.5 million cubic metres of gas per day to Pakistan, has already been delayed by a decade and further delay can prove suicidal for a country that faces a shortfall of around 2.22 billion cubic feet a day, he warned.



Published in The Express Tribune, August 28th, 2011.

COMMENTS (10)

fahim | 10 years ago | Reply

This is exactly the problem in our hateful society today. The attitude is "its my way, or highway". No one, even english literate taxpayers here in the forum, cannot see a comment that is different from their view or goes against popular belief. Immediately you will be coined an agent !! Although we live in a joke democracy, i think i still have the right to differ as a taxpayer, and say that we should not involve a foreign alien country in ALL our national projects, gift wrap our best economic assets, dangerously maneuver against our border neighbors (east/west) on the funding of chinese and act pathetically like stooge colony without self respect. I am sure there will be few who will agree. Doesnt matter what other brainwashed brasstrack members think.

Salman | 10 years ago | Reply

@yummy

everywhere in the world such projects are funded by investors, US has 1.3 trillion dollars (before they raised the ceiling) worth of debt. All these money is from investors which funds various projects going on in the country. Pakistan is no exception, it needs investors to complete the pipeline and if not for USA (opposing a deal with Iran and ignoring Pakistan energy needs) we would have had some other options to fund the project.

Don't mean to offend you! But please try to understand how these things works!

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