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Asian Tribune is published by World Institute For Asian Studies|Powered by WIAS Vol. 12 No. 2430

Pakistan decides to go ahead with gas pipeline project on Iran’s price formula

By Farzana Shah-Asian Tribune Correspondent in Pakistan

Islamabad, 10 April, (Asiantribune.com): Pakistan has decided to go ahead with the gas pipeline project with Iran accepting the price formula proposed by Iran.

A cabinet meeting accepted Iran’s offer to export one billion cubic feet per day of gas at 80 per cent of the crude oil price in the international market. A sale-purchase agreement is likely to be signed this year.

Briefing newsmen after the meeting, Minister for Information and Broadcasting Qamar Zaman Kaira said Pakistan had decided to go ahead with the gas pipeline project in accordance with its needs without caring about ‘US pressure, that forced India to pull out of it’.

The cabinet meeting also took other vital decisions with regard to different national and international projects.

In pursuance of the International Road Transport Agreement signed with Iran in June last year, the cabinet gave its approval for instrument of ratification concerning the deal.

It approved ratification of an agreement on cooperation in the field of transportation and transit of goods between Pakistan and Uzbekistan with the objective to provide the latter an access for transshipment of its trade cargo to and from Gwadar port.

The cabinet decided to set up a four-member committee to oversee Gwadar port operations. It would also propose incentives for the proposed export processing zone.

It ratified the SARSO accord as Pakistan is a signatory to the agreement on the establishment of South Asian Regional Standards Organization (SARSO) which has a mandate to remove technical barriers to trade and to facilitate flow of goods and services in the SAARC region.

The cabinet decided to review the Pak-Afghan transit trade agreement to safeguard the country’s interests while facilitating the Afghan trade.

The meeting approved negotiations on draft agreement on defence cooperation with Hungary.

It gave its approval in principle for negotiating a MoU between the National Defence University and Institute des Hautes Etudes de Defence National of France.

The cabinet granted ex-post facto approval to initiation of negotiations for a MoU on political consultations with Libya to provide a forum to take stock of the trajectory of bilateral relations and share views on issues of mutual interest.

Ex-post facto approval was also granted for entering into negotiations for an extradition treaty with Libya. Approval was also granted for a MoU for cooperation in the field of employment generation.

The cabinet also approved signing of agreements for abolition of visa for diplomatic and official/special passport-holders with Libya, Indonesia and Ireland.

The cabinet also approved draft of Anti-Money Laundering (Amendment) Bill, 2009, to bring various provisions of Anti-Money Laundering Ordinance, 2007, in line with international standards.

It approved draft Anti-Money Laundering (Amendment) Bill, 2009. The proposed amendments are necessary to bring the various provisions of Anti-Money Laundering Ordinance, 2007, in line with international standards.

The cabinet approved Pakistan’s accession to the International Convention for the Suppression of the Financing of Terrorism which requires parties to take steps to prevent and counteract the financing of terrorism whether direct or indirect through groups claiming to have charitable, social, or cultural goals or which engage in illicit activities.

It granted approval to the Draft Pakistan Marine Insurance Bill, 2009 and draft Law for Implementation of Convention of International Trade in Endangered Species of Wild Fauna and Flora Convention.

- Asian Tribune -

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