No justification of sanctions against IP gas pipeline project: ADB

ISLAMABAD – The Asia Development Bank’s Country Director has said that there is no justification for sanctions against Pakistan for the Iran gasline.

He however said Pakistan can’t be given budgetary support without permission of the International Monetary Fund (IMF) and the World Bank.

He also made it clear that interim government would not be given any funds, for it has nothing to do with economic reforms; rather, its function in to hold fair and transparent elections and transfer power to the winning party. Referring facts and figures, he said that Pakistan should have in possession reserves enough for three months.

At president, Pakistan has $ 8 billion out of which two billion dollars are to be paid to international institutions in near future.

He suggested that Petroleum and Water and Power Ministries should be merged in a single ministry by the name of Ministry for Energy.

It is worth noting that the United States has urged Pakistan not to go in the direction that leads to sanctions as Islamabad prepares to conclude a gas pipeline deal with Iran.

By The Nation


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