Pakistan Iran gas pipeline project faces setback

Pakistan Iran gas pipeline project faces setback
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ISLAMABAD - Pakistan Iran long delayed gas pipeline project faces a setback due sanctions from the United States and federal government may not continue with the project under present circumstances as revealed by the Petroleum Minister.

Minister for petroleum Ghulam Sarwar has said that further progress on the Iran-Pakistan gas pipeline was less likely since there were sanctions and the matter was serious due to other political concerns.

He expressed confidence that the Iranian side would not move to the international court against Pakistan.

The petroleum minister said the government would readjust the price of petroleum products. He recalled that until 2004, diesel was cheaper than petrol.

The minister said prices for petrol and diesel will be set according to the ratio in the international markets and taxation will also be done based on the same. A special briefing will be held with Oil and Gas Regulatory Authority (Ogra) on this subject, he added.

Sarwar also announced that Pakistan Petroleum Ltd (PPL) had made a gas discovery in Sanghar district Sindh producing 23 mmcfd gas and 91 barrels per day crude oil.

Economy