According to Pakistan’s Geo News, the caretaker Cabinet Committee on Energy (CCoE) approved on Friday works on the first phase of the Iran-Pakistan (IP) gas pipeline, which will increase the hope for boosting Pakistan’s energy security.
The pipe-laying project from the Iranian borderline to Gwadar port city in Balochistan province, Pakistan, is estimated to cost 45 billion Pakistani rupees, which will provide the country with the opportunity to import cost-effective gas from Iran.
Some informed sources in Pakistan said that Islamabad would be able to avoid an 18 billion US dollar fine with the laying of the pipeline.
Pakistani Senator Mushahid Hussain Syed wrote on his X (formerly Twitter) on Saturday: “Caretaker cabinet committee approves work on Iran-Pakistan gas pipeline.”
“About time bold & necessary decisions benefiting the interests of people of Pakistan were taken, the Iran-Pakistan Pipeline is absolutely vital for Pakistan’s Energy Security & Economic Independence!” he added.
The gas pipeline project has been facing delays since 2014. In January, Tehran issued a third notice to Islamabad, warning that it would refer the case to the arbitration court for not laying the pipeline as part of the project.
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