ISLAMABAD: Pakistan and Turkmenistan agreed on Wednesday to fast-track a major pipeline project that will allow the Central Asian state to supply natural gas to Pakistan and India via Afghanistan, thereby enhancing economic activity across the region and benefiting all involved countries.
The understanding between the two states was reached during a meeting between Federal Minister for Petroleum Dr. Musadik Malik and Turkmenistan’s Foreign Affairs Rasit Meredow who arrived on a two-day visit to Islamabad on Tuesday.
The Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline will originate from Galkynysh, the world’s second-biggest gas field, and end at the Indian city of Fazilka near the Pakistan border.
If the project is implemented, it will help Turkmenistan supply about 33 billion cubic meters (bcm) of natural gas each year along a route covering a distance of over 1,800 kilometers.
According to an official statement released by the Ministry of Energy’s Petroleum Division, Pakistan and Turkmenistan are working to “expedite” the pipeline project.
“TAPI pipeline project will lower energy costs, which can boost industrial growth, create jobs and foster economic development,” it quoted Pakistan’s petroleum minister as saying during the meeting. “Reliable and affordable energy supplies are vital for industrial sectors and overall economic stability.”
“This project, aimed at fostering economic integration and energy security, has witnessed substantial progress through collaborative efforts,” he continued, stressing the importance of continued engagement between the two countries.
Malik added Pakistan was fully committed to the project which was vital for regional energy cooperation and infrastructure development.
The visiting dignitary expressed appreciation for the warm welcome extended to his delegation by the Pakistani authorities.
“Together we will chalk out a roadmap for cooperation between both countries,” he added.
The meeting was also attended by the CEO of TAPI Pipeline Company Limited.
Other participants of the meeting emphasized the project’s strategic importance in enhancing regional connectivity, promoting economic growth and meeting the energy demands of participating nations.
The TAPI project was envisaged in the early 1990s and officially agreed upon in December 2010.
It has primarily been delayed due to security concerns, geopolitical tensions, funding challenges and bureaucratic hurdles.
Pakistan and Turkmenistan agree to fast-track gas pipeline project involving Afghanistan and India
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Pakistan and Turkmenistan agree to fast-track gas pipeline project involving Afghanistan and India
- TAPI pipeline project was envisaged in the early 1990s and officially agreed upon in December 2010
- It has been primarily delayed due to security concerns, funding challenges and bureaucratic hurdles
Pakistan bank enables Shariah-compliant digital payment facility for passengers at Islamabad airport
Pakistan bank enables Shariah-compliant digital payment facility for passengers at Islamabad airport
- Pakistan is a cash-dominated market where a significant portion of transactions in the informal sector are made without any taxes, officials say
- The move comes amid Pakistan’s efforts to introduce a cashless model at airports under which only digital service providers can provide services
KARACHI: Aik, Pakistan’s first Islamic digital bank, has enabled fully digital payments at Islamabad International Airport to offer travelers and passengers secure, Shariah compliant digital transaction facility.
The development comes amid Pakistan’s efforts to introduce a cashless model at airports across the country, under which only digital service providers can provide services to customers.
Aik, a subsidiary of Bank Islami, said it has onboarded merchants across the Islamabad airport and integrated QR code deployments at key touchpoints to allow passengers and visitors to make secure, seamless, and Shariah-compliant digital transactions at all counters, retail outlets, and service points.
It said the implementation complies with the regulations and framework set by the State Bank of Pakistan (SBP) and is a working model for a large-scale adoption of cashless systems in public infrastructure.
“This deployment reflects our commitment to building practical digital infrastructure that improves everyday transactions,” Aik Chief Officer Ashfaque Ahmed said in a statement.
“By enabling a fully cashless environment at a major national gateway, we are supporting efficiency, transparency, and financial inclusion at scale. This is not only a project; it is a foundation for Pakistan’s cashless future.”
Pakistan is a cash-dominated market where a significant portion of transactions, particularly in the informal sector, are conducted in cash. Officials say many of these transactions are aimed at avoiding taxes.
In recent years, the SBP has taken steps to ensure a transition toward a more cashless economy so that transactions are more traceable, reducing chances of tax evasion and corruption.
By digitizing Islamabad airport, aik said it continues to invest in secure and accessible financial solutions that “expand digital participation and support national economic modernization.”
