Tag: Pipeline

Resurrecting dead IP gas pipeline project

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Oil-and-Gas

ISLAMABAD: Iranian Foreign Minister Hossein Amir Abdollahian on Monday presented a workable solution with regard to the completion of the Iran-Pakistan gas pipeline project with a proposal that the project can be financed by China and Russia if Islamabad is facing resistance because of the US sanctions on Tehran. The proposal was presented by the visiting Iranian foreign minister during delegation-level talks with caretaker Foreign Minister Jalil Abbas Jilani upon his day-long visit in the wake of the recent tension between the two countries, sources privy to the development told Business…

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Under IMF radar: FBR declines $50m tax exemption for TAPI gas project

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TAPI-gas

ISLAMABAD: The tax collecting agency of the country is evasive from including the Turkmenistan–Afghanistan–Pakistan–India (TAPI) gas pipeline project in the Foreign Investment Promotion and Protection (FIPPA) Act 2022 as it would cost the tax exemption of $40-50 million which is not possible since the country is very much in the discipline of IMF, senior officials of the Energy Ministry told ‘The News’ on Monday. “FBR has already refused to give tax exemptions to local refineries on the amount of the incentives from the ESCROW account to be given by the…

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