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IP gas pipeline project: Chinese and Abu Dhabi-based firms offer financing: Asim - Naveed Yaseen - 07-12-2009 08:23 AM
RECORDER REPORT
KARACHI (July 12 2009): Two international firms have offered financing for the construction of $1.2 billion Iran-Pakistan (IP) gas pipeline project. This was stated by the Advisor to the Prime Minister on Petroleum and Natural Resources, Dr Asim Hussain while talking to media at the oath-taking ceremony of SSGC Peoples Labour Union (CBA), here on Saturday.
The advisor said the offer has been given by a Abu Dhabi-based company and a Chinese firm. He said work on the route survey has been started. He pointed out that the total cost of the project through land route is estimated around $1.2 billion while through sea route it would increase to $2 billion.
Dr Asim said the government has planned to invite more international oil and gas exploration companies for drilling in various fields. In this regard, he said, the government will organise road shows in various countries. He pointed out that two international companies will start drilling in current year while another company will initiate work next year.
He was optimistic that a huge foreign investment amounting to over $10 billion will come in the oil and gas sector in next five years. He said the government will obey the Supreme Court order with regard to petroleum prices. The advisor said the government did not impose carbon surcharge or petroleum levy on jet fuel to compete in the international market.
He pointed out that the prices of jet fuel are much lower than various competitor countries including Dubai. Any further increase in jet fuel can force the international airlines to stop fuelling from Pakistan, he added. Regarding the demands of SSGC employees, the advisor said that he has directed the company's management to start negotiations with the CBA on its charter of demand. He also directed the company to restore employees' quota of son and to provide them medical facilities after retirement.
He also announced to construct a low-cost housing scheme for SSGC employees. He said the cost of land for this scheme would be borne by the company. Earlier, speaking at the ceremony, Dr Asim said the government will announce new labour policy soon. He said the government wants to revive trade union activities in the country so that the workers could play their role for the development of the country.He said that some elements want to destabilise the system and they are misleading the people over various issues.
The recent global recession has hit almost all the countries in the world. However, the recent economic issues in the country are the result of wrong policies of the previous government. Umair Ahmed Khan, MD SSGC said the company will take every possible decision for the welfare of its employees. He said the company management has started negotiations with CBA on employees' charter of demand and it would be finalised soon.
Ejaz Baloch, President, SSGC Peoples Labour Union, Riaz Akhtar Awan, Chairman and others also spoke on the occasion. Sindh Minister for Katchi Abadis Rafiq Engineer, Secretary, People Labour Bureau, Khawaja Muhammad Awan, Advisors to Sindh Chief Minister Rashid Rabbani and Waqar Mehdi and a large number of PPP leaders and companies officials attended the ceremony.
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