ISLAMABAD: The government has failed to funnel funds into the Iran-Pakistan pipeline project in spite of collecting Rs295 billion the under Gas Infrastructure Development Cess Act 2015, the Ministry of Petroleum told the Supreme Court on Thursday. TAPI Gas Purchase Agreement (GSPA) was concluded in 2012 under which Turkmenistan will supply 1341 mmscfd gas for 30 years. According to the report, the government only allocated Rs482 million for the TAPI project out of the collected cess. Likewise, no fund has been transferred for the IP project, says the report. Regarding the IP project, the ministry revealed that working teams are continuously pursuing a viable solution for the implementation of the project in the context of international sanctions on Iran.

Source: Pakistan Today January 30, 2020 16:52 UTC