Pakistan to Look for Funding Options for IP Pipeline Project

Pakistan’s  Economic Coordination Committee has consituted a ministerial committee to hire financial advisors for arranging funds for the construction of the Iran-Pakistan gas pipeline after a Chinese bank backed off due to increasing U.S. pressure, Tribune reported Tuesday.

 The ministerial committee will review options of a possible deal with China, Russia or Iran with regards to the construction of the 800 kilometer pipeline from the Iranian border to Nawabshah.

The committee is expected to finalise its recommendation as early as possible so as to meet the pipeline project deadline.

Meanwhile, Pakistan is also mulling over an option where Iran could take up the task of construction of the Pakistani portion of the pipeline.

Pakistan has decide to go ahead with the Iran-Pakistan pipeline despite pressure from US to abandon the project.