ISLAMABAD: The Public Accounts Committee expressed concern on Wednesday that Pakistan would have to pay a staggering amount of $18 billion in penalty if the country did not go ahead with the Iran-Pakistan Gas Pipeline project.
“The US should pay the penalty if it does not approve of Pakistan and Iran going ahead with the gas pipeline project. The USA will have to do away with double standards — being lenient with India in meeting its energy needs while punishing Pakistan for the same,” said Public Accounts Committee (PAC) Chairman Noor Alam Khan.
The observation came after the Ministry of Foreign Affairs (MoFA) informed the PAC through a letter that a meeting with the US ambassador would be arranged after his return from Washington.
The letter was in reply to a concern arising out from deliberations that the PAC held on March 1.
The ministry said: “In view of great importance of the Iran-Pakistan (IP) gas pipeline project in the emerging regional situation, this ministry has been exploring all possible options, including close engagements and meaningful exchanges with relevant parties, including Iran and the USA.
“In this regard a technical team from the petroleum division visited Tehran in January to discuss ways and means to proceed with the IP gas project. The Prime Minister’s Office has held inter-ministerial meetings of all stakeholders and agreed on an action plan to proceed on the IP gas pipeline project.”
In reply to a question on the purchase of petroleum products from Russia, the foreign affairs ministry said an agreement had been signed with Moscow for purchasing a test cargo of crude oil which would be reaching Pakistan soon.
“Pakistan was committed to the Pak Stream Pipeline project. The two sides are negotiating outstanding issues,” the ministry said.
