The Public Accounts Committee voiced worry that if Pakistan did not proceed with the Iran-Pakistan Gas Pipeline project, it would be required to pay a staggering $18 billion in penalty.
If the United States does not want the gas pipeline project between Pakistan and Iran to get forward, it should bear the cost of doing so. “The United States must abandon its double standards, which allow India to meet its energy needs while punishing Pakistan,” said Noor Alam Khan, chairman of the Public Accounts Committee (PAC).
The Foreign Affairs Ministry (MoFA) had previously told the PAC by letter that they would be meeting with the US Ambassador upon his return from Washington, which prompted this remark.
The PAC met on March 1, and the letter was sent as a response to a worry that came up during those discussions.
US should be fined if it continues to oppose pipeline project, according to PAC chairman
This ministry has been investigating all alternatives, including close engagements and meaningful discussions with relevant parties, including Iran and the United States, because of the critical nature of the Iran-Pakistan (IP) gas pipeline project in the developing regional scenario, the ministry stated.
Accordingly, in January, a technical team from the petroleum division travelled to Tehran to plan the next steps for the IP gas project. The IP gas pipeline project will move forward after the Prime Minister’s Office convened inter-ministerial consultations with all parties involved.
The Foreign Affairs Ministry responded to a question about importing Russian petroleum goods by stating that an agreement had been made with Moscow to purchase a test cargo of crude oil, which would shortly be arriving in Pakistan.
The Pak Stream Pipeline project has Pakistan’s undivided attention. According to the ministry, “the two sides are negotiating outstanding issues.”
Pakistan lost billions of rupees because of some petroleum businesses
Two petroleum businesses had caused significant losses to private investors and the national exchequer, thus the committee ordered the ministry to retrieve the “money embezzled” by these corporations.
Byco and HASCOL still haven’t paid back every penny they stole from the government.
The PAC was shocked to find that the two companies’ proprietors had left the country despite being on an exit control list. Byco was reported to owe the government Rs 57 billion, but only Rs 3.9 billion had been retrieved at the time of the meeting.
Noor Alam Khan, expressing his disappointment at the little sum recovered, pointed out that the committee had already instructed the Petroleum Division not to show leniency in recovering the stolen money, but that the division was still in negotiations with the defaulters.
The PAC restated its earlier orders regarding the recovery of the stolen funds by taking action against the two entities.
In order to take the Byco assets and have the owner arrested, Noor Alam ordered the Federal Investigation Agency (FIA). “Sell his assets to recover the embezzled amounts,” the PAC head ordered.
Byco, on the other hand, claimed it was a straightforward case of “payables vs receivables” given that various government agencies owed Rs79bn to Cnergyico. The business claimed that the case was ongoing in court and that it was in settlement talks with the government.
The PAC also issued a directive requesting that the petroleum ministry remove Rs500 from the adjustment fee on monthly petrol bills for low-income families. The PAC also suggested lifting the moratorium on new gas metre installations, arguing that doing so would reduce theft.
Noor Alam Khan demanded information about special treatment granted to the country’s top officials from the Auditor General’s office. He pointed out that the Auditor General had not yet revealed details about the compensation of military brass.
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