It is so heartening to hear from the government sources that there is no shortage of funds for the Iran-Pakistan gas pipeline project. Not only this, Federal Minister for Petroleum Dr Asim Hussain has categorically stated that if investment is not forthcoming from outside financing channels, Pakistan would fund this important project from its national resources. At the same time, Dr Asim denied reports that the consortium comprising Chinese Industrial and Commercial Bank and Habib Bank Limited had refused to provide the required funds; in fact, negotiations with the consortium were in an advanced stage and a positive outcome was expected quite soon. The Minister indicated that under the head of a surcharge, the amount of money required to finance the project had been collected and that there should be no problem in its execution.
Foreign Minister Hina Rabbani Khar has also spoken on the IP reiterating that the project was most feasible and funding was no hurdle to its implementation. These statements reflect the government’s resolve to go ahead with the project despite opposition from the US Administration. Different US leaders, including President Obama and Secretary Clinton, have publicly expressed American opposition of Pakistan getting the natural gas from Iran. It is about time our leadership stuck to its decision to say a firm ‘No’ to external pressure in the national interest.