ISLAMABAD: Pakistan has hired a French law firm to explore legal options to deal with Iranian threat of moving international court against Islamabad for its failure to execute the Iran-Pakistan gas pipeline project and find out a way if the project can be completed without attracting the US sanctions, a top official at Ministry of Energy said on Tuesday.
The US has steadfastly opposed Pakistan's involvement in the $7 billion project, saying it violates the sanctions imposed on Iran.
Under an agreement signed between the two countries in 2009, the project was to be completed by December 2014 and would deliver 21.5 million cubic meters (760,000 million cubic feet) of gas per day to Pakistan. It was to be constructed using a segmented approach – Iran had to lay down the pipeline on its side and Pakistan was supposed to build the pipeline on its soil.
Tehran formally issued a notice to Islamabad in February this year, saying it was moving an arbitration court against Pakistan for failing to lay down the pipeline in Pakistani territory in the time-frame stipulated in the bilateral agreement. Since then, Pakistan has been exploring different legal and diplomatic options to avoid litigation.
“We are analyzing the overall international situation regarding Iran and studying Tehran’s position over the gas pipeline project through an international law firm,” Sher Afgan Khan, additional secretary at Ministry of Energy, told Arab News.
Pakistan has hired the French law firm, Gide Loyrette Nouel, to study the deal and prepare a legal response to Iran’s position that the US sanctions do not impact its gas import trade. In May this year, Pakistan had informed Iran in writing that it cannot execute the project as long as Tehran is under a US sanctions regime.
“We are trying our best not to violate [the US] sanctions ….. we are already on the FATF’s [Financial Action Task Force] grey-list,” Khan said referring to Pakistan’s formal placement on the FATF’s grey-list in June last year.
The Trump administration has warned countries around the world to stop buying Iranian oil or face sanctions of their own. Washington’s European allies have tried and failed to come up with ways to blunt the economic impact of the US move. The US sanctions against Iran are a major hindrance for most gas pipeline projects in the region.
But Pakistan is caught in a catch-22 situation over the deal. Under a penalty clause, Pakistan is bound to pay $1 million per day to Iran from January 1, 2015 for failing to build its part of the pipeline. If Iran takes the case to an arbitration court, Pakistan will likely have to pay around $1.8 billion in penalty.
Additional secretary Khan said, “Negotiations are in progress to settle the issue amicably” with Iran, adding that "Iran understands our position."
About the deadline of completion of the legal consultation process with the French law firm, he said: “It is not very extensive and expected to be completed soon.”
Pakistan hires top law firm to avoid $1.8 billion penalty in Iran gas pipeline project
Pakistan hires top law firm to avoid $1.8 billion penalty in Iran gas pipeline project
- French law firm Gide Loyrette Nouel will provide legal assistance to Islamabad
- Pakistan is bound to pay a daily penalty of $1 million to Iran starting from January 1, 2015 under a penalty clause of the bilateral agreement
Pakistan unveils world’s ‘largest’ Markhor sculpture in Kaghan Valley
- Massive structure, standing 105 feet high and 38 feet wide, took five years to complete
- Authorities aim to draw tourists to mountainous north, raise awareness about species
ISLAMABAD: Pakistan has unveiled the world’s “largest” sculpture of the Markhor, the country’s national animal, in the scenic Kaghan Valley, Radio Pakistan reported on Friday, highlighting cultural pride, wildlife heritage and the country’s growing focus on tourism.
By immortalizing the Markhor in stone, authorities aim to draw tourists to the mountainous north and raise awareness about the species, a symbol of national identity and a conservation-success story.
“The massive structure, standing 105 feet high and 38 feet wide, took five years to complete,” Radio Pakistan reported. “The Kaghan Valley, known for its breath-taking landscapes, now hosts this record-breaking tribute, attracting visitors from across the country and beyond.”
The Markhor, a wild mountain goat native to the high-altitude regions of northern Pakistan, including Gilgit-Baltistan and Khyber Pakhtunkhwa, has distinctive corkscrew-shaped horns and remarkable agility on rocky terrain.
Once heavily threatened by overhunting and habitat loss, the Markhor’s fortunes have rebounded in recent decades thanks to conservation efforts and community protection programs. Its increasing population has led to its conservation status being downgraded from “Endangered” to “Near Threatened.”
Local tourism officials say the new sculpture is expected to draw significant numbers of visitors to Kaghan Valley, giving a boost to local economies while reinforcing interest in wildlife conservation and Pakistan’s natural heritage.
