Pakistan and Iran to set up joint company to raise funds for IPI gas pipeline project

[Naveed Yaseen]

M GHUMMAN
NEW YORK (September 24 2008): Pakistan and Iran have agreed to establish a joint company to raise funds for the Iran-Pakistan-India (IPI) gas pipeline for which Iran will provide sovereign guarantee.

This was disclosed by the Minister for Information and Broadcasting Sherry Rehman at a press briefing after bilateral meeting of President Asif Ali Zardari, US President George W Bush, Iranian President Ahmedinejad and French President Sarkozy.

She said, President Zardari and President Ahmedinejad discussed bilateral relations between the two countries but their main focus was on the IPI gas line. During the meeting both the leaders agreed to fix a meeting of Foreign Ministers on October 9 and 10 to plan out details of the project.

Both the countries also agreed to constitute a team of five Deputy Ministers from each country to co-ordinate and establish a joint company to give sovereign guarantee for raising capital to be raised in Pakistan and Middle East.

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