ISLAMABAD, Dec 14 (APP): Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project would play an important role in economic development of the country.
This was stated by analysts while talking in Radio Pakistan’s Current Affairs’ programme.
Chairman, Board Of Investment Dr. Miftah Ismail said that TAPI gas pipeline project was in best interest of Pakistan and would play an important role in economic development of the country.
He said,”Our present reserves have been reducing so this project will be helpful to increase gas reserves in the country.”
The Government, he said, has initiated many development projects in this regard.
The TAPI Gas pipeline project, he said would support the government in efforts to overcome gas and energy shortages.
He said many development projects regarding power and gas shortage were expected to be completed till 2018-19.
The Government has vowed to complete all the projects in specified time at all costs, he said.
Minister of State for Petroleum and Natural Resources Jam Kamal said Pakistan was already been producing 2 billion mmcfd gas locally whereas the demand was of 6 billion mmcfd.
This, he said, was a 1 0 billion dollars Trans regional energy project. 70% of Pakistan’s demand would be fulfilled through TAPI gas pipeline project.
The country would invest only 5% in this project while Turkmenistan would bear 85% of overall expenses,he said.
“The credit for development projects and improving the economy of the country goes to present government,” he added.
Certain job opportunities would also be generated through this project, he said, adding Pakistan has been facing a challenge of gas shortage and this project would support the government to overcome it.
Managing Director, Inter-State Gas Systems Mubeen Saulat said, Pakistan, India, Afghanistan and Turkmenistan were the partners of TAPI gas pipeline project.
This project, he said was expected to be practically implemented almost 25 years ago; But now, the dream came true and the foundation stone of TAPI gas pipeline project has been laid.
TAPI gas pipeline project would help promote peace and trade amongst the regional countries, he said.
Turkmenistan, he said was the main investor of this project and Pakistan, India and Afghanistan would have to support Turkmenistan to make this project successful.
Spokesperson of TAPI gas pipeline project Syed Tauqeer Hussain said 1735-Km long gas pipeline would be laid in Pakistan, Afghanistan, India and Turkmenistan through this project.
Pakistan has been able to produce 50% of its requirement locally; the remaining would be fulfilled by TAPI gas pipeline project,he said, adding Pakistan would pay transit tariff fee to Afghanistan and India would pay this fee to Pakistan.
As, Pakistan would have no burden so cheap gas would be available in country.
Turkmenistan will bear all the expenses of this mega project.
This project, he observed, would definitely change the destiny of all four member countries of the project and would play its role for regional.