Islamabad: The Economic Coordination Committee’s (ECC) Steering
Committee recommended the appointment of financial consultant on
Iran-Pakistan (IP) Pipeline and Turkmenistan-Afghanistan-Pakistan-India
(TAPI) pipeline projects and reaffirmed to go ahead with major Gas
projects.
Dr Asim Hussain Federal Minister for Petroleum &
Natural Resources Dr. Asim , chaired the meeting on Thursday which was
attended by Foreign Minister Hina Rabbani Khar, Chief Minister
Balochistan Nawab Mohammad Aslam Khan Raisani, Chairman Federal Board of
Revenue, Chairman Board of Investment, Secretary Finance Division,
Acting Chairman OGRA, Chairman EOBI, MD PARCO, representatives of Law
Division, Planning Commission, National Bank of Pakistan and Senior
Officers of Ministry of Petroleum & Natural Resources.
Federal
Minister for Petroleum & natural resources Dr Asim Hussian chaired
the meeting and during the meeting, Secretary Petroleum Muhammad Ejaz
Chaudhry briefed the committee regarding progress made on IP and TAPI
projects.
Managing Director Inter State Gas Company Ltd. (ISGCL)
Mobin Saulat gave a detailed presentation on appointment of financial
advisor, implementation of Iran Pakistan Gas Pipeline Project, security
of IP pipeline during route survey and construction, and signing of TAPI
Gas Sale Purchase Agreement (GSPA). Members of the EEC’s Steering
Committee agreed in principle to recommend the proposals regarding
implementation of IP and TAPI gas pipeline projects to the Economic
Coordination Committee (ECC) and appointment of financial consultant.
These proposals include government-backed guarantees, model of
financial consultancy and gas pricing formula for both pipeline
projects.
Dr. Asim Hussain thanked all the honorable members for
attending the steering committee meeting and emphasized that both IP
and TAPI projects are of prime importance for Pakistan and are essential
for meeting energy demands of the country.
At this occasion,
Minister for Petroleum & Natural resources urged that the precious
natural resources like oil and gas must be conserved in order to achieve
sustainable development, and all the stakeholders should cooperate in
implementing gas load management program. Online
