Pakistan's cabinet clears way for pipeline as Iran's
price is accepted
09-04-09
The cabinet cleared the way for the gas pipeline project with Iran by
accepting price purchase formula offered by Tehran. A cabinet meeting
accepted Iran's offer to export one bn cfpd of gas at 80 % of the crude oil
price in the international market. A sale-purchase agreement is likely to be
signed this year.
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 decided that the government would own responsibility of paying
Rs 31 bn outstanding against the Karachi Electric Supply Company to help its
management invest the promised amount of Rs 28 bn on development projects to
increase power generation. 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
accessfor transhipment 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
Organisation (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. It
decided to levy 25 % regulatory tax on export of molasses because its
production had dropped after a decline in sugarcane production.
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. The cabinet decided to defer approval of a
new national education policy after a couple of provinces expressed
reservations.
The meeting approved negotiations on draft agreement on defence cooperation
with Hungary. It gave its approval in principle for negotiating an 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
an 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 an 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. It approved in principle a draft bill for the establishment of
National University of Law and Social Sciences at Islamabad with its
campuses in provincial capitals.
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 FloraConvention.
Source: http://www.dawn.com |