KARACHI: Pakistan decided to build an 80-kilometer segment of the Iran-Pakistan (IP) gas pipeline on Friday after the Cabinet Committee on Energy approved the recommendations of a ministerial oversight committee evaluating various dimensions of the project after it was constituted by Caretaker Prime Minister Anwaar-ul-Haq Kakar last September.
Originally intended to supply gas from Iran to both Pakistan and neighboring India, the project was referred to as the IPI pipeline. However, India later withdrew from the project over concerns related to pricing and security, leading to the current designation as the IP gas pipeline.
The project remained stalled for a significantly long period since it could potentially create problems for Pakistan due to the international sanctions targeting Iran.
The United States, in particular, expressed opposition to the project, and there had been concerns that Pakistan could face economic sanctions if it proceeded with it.
“The [Cabinet] Committee [on Energy] recommended to start work on the 80 km segment of the pipeline inside Pakistan i.e. from Pakistan border up till Gwadar in the first phase,” said an official statement circulated by the Petroleum Division of Energy Ministry. “The Project will be executed by Inter State Gas Systems (Pvt) Ltd. and will be funded through Gas Infrastructure Development Cess.”
“All the concerned divisions gave a positive nod to move ahead with the project to ensure gas supplies to the people of Pakistan, thereby addressing the increasing energy needs of the country,” the statement added.
The project is expected to boost the country’s energy security and strengthen the local industry that can be assured sustainable and enhanced gas supplies.
The construction of the IP pipeline is also expected to catalyze the economic activity in Pakistan’s southwestern Balochistan province and which can positively impact the national economy.
Government greenlights construction of 80-kilometer segment of Iran-Pakistan gas pipeline
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Government greenlights construction of 80-kilometer segment of Iran-Pakistan gas pipeline
- The pipeline will be constructed from Pakistan’s border with Iran to its port city of Gwadar in the first phase
- The project is likely to boost the country’s energy security, strengthen local industry with enhanced gas supply
Pakistan PM invites UAE investment across tech and resource sectors at National Day event
- Shehbaz Sharif says the UAE remains a key economic partner and continues to lend ‘critical support’ to Pakistan
- UAE envoy says both nations have potential for cooperation in renewable energy, AI and economic diversification
ISLAMABAD: Pakistan is ready to welcome investment from the United Arab Emirates across emerging technologies and resource sectors, Prime Minister Shehbaz Sharif said on Monday, as both countries marked the 54th National Day of the Gulf country in Islamabad.
Speaking at the ceremony attended by senior ministers, diplomats and business leaders, Sharif said the UAE remained a key economic partner for Pakistan and continued to lend “critical support” to the country’s stabilizing economy.
“Pakistan takes great pride in its strategic partnership with the UAE, which continues to deepen across every domain of life,” he said. “With Pakistan’s economy stabilizing, we stand ready to welcome Emirati investment in renewable energy, AI, fintech, agriculture and minerals.”
Sharif praised the UAE’s leadership and recalled his earliest memories of the Gulf nation as “a land that believed in possibilities long before they became realities,” saying the country’s progress under President Sheikh Mohamed bin Zayed Al Nahyan commanded “profound admiration.”
UAE Ambassador Salem Al Bawab Al Zaabi said the Emirates was committed to strengthening ties with Pakistan in areas including the economy, energy and artificial intelligence.
He said the two countries shared a “deep-rooted friendship built on mutual respect, shared values and a common vision for regional peace and development.”
“We see tremendous potential for collaboration in renewable energy, artificial intelligence, sustainability and economic diversification,” the ambassador said, adding that the UAE aimed to broaden the scope of its economic relations with Pakistan.
The UAE hosts around 1.8 million Pakistani expatriates, one of the country’s largest overseas communities, who Sharif said contributed “tirelessly” to the Gulf state’s development.
Sharif and Deputy Prime Minister Ishaq Dar also joined the UAE ambassador in a cake-cutting ceremony to mark the occasion.
