LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) on Thursday appreciated the Federal Cabinet for giving green signal to Iran-Pakistan gas pipeline and expressed the hope that the ministerial committee, constituted to explore funding avenues for the project, would proceed expeditiously, according to a statement.
Farooq Iftikhar, president of the LCCI, Irfan Iqbal Sheikh, senior vice president and Mian Abuzar Shad, vice president of the LCCI, said that the Lahore Chamber is already been pressing the government hard for procuring the required energy resource from whatever source suits to it to relieve the country of the mounting shortages of gas, it said.

The LCCI leaders said that the chamber is convinced that the Iranian source is the most feasible, financially, as well as from the point of view of proximity and succumbing to any pressure would further worsen the already crippling power crisis.

They appreciated the Federal Cabinet for its decision to complete the project at the earliest through mutual cooperation instead of relying on foreign aid, according to the statement.

At present, a number of industrial units had stopped their operations due to the lack of power, let alone any new ones to come on line, they said, adding that other sectors of the economy such as agriculture are not immune from its impact. The economy, already in the doldrums, threatens to come crashing down, they said.

The Iran-Pakistan gas pipeline would serve Pakistan’s national interests and would go a long way in mitigating the energy issues.

By The News International

 

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