Russia, Iran offer to lay Iran-Pakistan gas pipeline

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Russia, Iran offer to lay Iran-Pakistan gas pipeline
Tuesday, March 13th, 2012 9:39:36 by Fayyaz Yaseen

Russia, Iran offer to lay Iran-Pakistan gas pipeline

Islamabad: (Tuesday, March 13, 2012) lending a helping hand to energy as well as cash starved Pakistan, Iran and Russia have expressed interest in laying the Iran-Pakistan gas pipeline.

In order to determine feasibility of the offer, Economic Coordination Committee (ECC) has formed a Federal Cabinet body.

The ECC could only decide on the formation of federal cabinet body when it was briefed about the proposal in a meeting held having Federal Minister for Finance Dr. Hafeez Sheikh in the chair.

The committee that is to decide on deliberating on Iran-Pakistan gas pipeline is comprised of Federal Minister Syed Naveed Qamar, Dr. Asim Hussain, Federal Secretary for Economic Affairs and Finance and Governor State Bank of Pakistan.
According to news, the body has been directed to submit its report within 2 to 3 days.

It was also shared in the meeting that Iran has offered a sum of 250 million dollars for initial financing of the project.

In its proceeding, the ECC also approved a sum of 6.10 billion for Pakistan Railways to repair and restore the broken down locomotives.

The meeting also formed a committee to take stock of exporting 1.280 million tones wheat to Iran.

Excellent news will bring Russia Iran Pakistan and China. Something which I have been saying for some time these countries interests converge so..

This is a great news for Pakistan. Russia must help this pipeline get complete with whatever efforts they may make from their side. Pakistan is in great need of energy in terms of gas to generate electricity and its russia only who may help by technology and finance both to complete this project. I heard even Chinese banks have refused to fund this project for Pakistan but once Russia gets agreed, they will stand on their promise. Gas is a very less poluting source of energy as compare of Oil and Iran has the second largest gas reserve of the world. and once this project will get completed, it is also very likely to either extend the same pipeline to India or India may have a gas pipeline from Iran through sea route, whatever will be the most economical for India. we just need to see one success and then all the opportunities will get open to utilize Iran’s hefty gas reserve. I strongly believe that Pakistan’s rulers understand electricity need of its people and they will stand on their commitment to have gas pipeline from Iran and rest, Russia would certainly help it get final touch