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Storm brewing against Pakistan Steam Gas Pipeline July 28, 2021 ISLAMABAD: In a shocking development, Pakistan has asked Russia that it has no money to fully fund its 74 percent shareholding in the $3 billion project of Pakistan Steam Gas Pipeline (PSGP) and asked Moscow to raise debt financing up to $1.4 billion against its shareholding for the project raising eyebrows of many if the huge amount of Rs 295 billion ($1.83 billion) collected in the head of GIDC (gas infrastructure development cess) by Finance Ministry till August 2020 has been utilized by the government. So much so that Pakistan also asked Russia to jack up its shareholding maximum up to 49 percent from 26 percent showing that Islamabad does not have the required amount to finance its own shareholding of 74 percent. This develops a strong impression if the government that collected over Rs385 billion has utilized the GIDC amount either in budget financing?.

MoscowMoskvaRussiaIranPakistanIslamabadRussiansRussianWaqar masood khanTanwar shaikhTabish gauharPetroleum divisionCabinet committee on energyPetroleum dr arshad mahmoodCentre for operational servicesMinistry of defense