Pakistan's Finance Ministry has indicated its reluctance to provide 300 million dollars to the petroleum ministry for executing the two billion dollars Gwadar liquefied natural gas (LNG) pipeline project.
Array
The ministry is reportedly delaying the release of the funds because it appears to have spent the entire cess collection from gas consumers to bridge the budget deficit,reports the Dawn.
Array
The Ministry of Petroleum and Natural Resources had reportedly approached the finance ministry earlier to seek the release of the gas infrastructure development cess (GIDC) collection for spending on planned gas import projects.
Array
Also Read
The Sharif government is reportedly seeking to negotiate the Gwadar pipeline cost at Rs. 183.86 billion.
Array
The China Petroleum Pipeline Bureau is expected to provide 85 percent of financing, while the balance 15 percent is to be borne by Pakistan.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app