AIRLINK 191.00 Decreased By ▼ -5.65 (-2.87%)
BOP 10.15 Increased By ▲ 0.01 (0.1%)
CNERGY 6.75 Increased By ▲ 0.06 (0.9%)
FCCL 34.35 Increased By ▲ 1.33 (4.03%)
FFL 17.42 Increased By ▲ 0.77 (4.62%)
FLYNG 23.80 Increased By ▲ 1.35 (6.01%)
HUBC 126.30 Decreased By ▼ -0.99 (-0.78%)
HUMNL 13.80 Decreased By ▼ -0.10 (-0.72%)
KEL 4.75 Decreased By ▼ -0.01 (-0.21%)
KOSM 6.55 Increased By ▲ 0.18 (2.83%)
MLCF 43.35 Increased By ▲ 1.13 (2.68%)
OGDC 226.45 Increased By ▲ 13.42 (6.3%)
PACE 7.35 Increased By ▲ 0.34 (4.85%)
PAEL 41.96 Increased By ▲ 1.09 (2.67%)
PIAHCLA 17.24 Increased By ▲ 0.42 (2.5%)
PIBTL 8.45 Increased By ▲ 0.16 (1.93%)
POWER 9.05 Increased By ▲ 0.23 (2.61%)
PPL 194.30 Increased By ▲ 10.73 (5.85%)
PRL 37.50 Decreased By ▼ -0.77 (-2.01%)
PTC 24.05 Decreased By ▼ -0.02 (-0.08%)
SEARL 94.97 Decreased By ▼ -0.14 (-0.15%)
SILK 1.00 No Change ▼ 0.00 (0%)
SSGC 40.00 Decreased By ▼ -0.31 (-0.77%)
SYM 17.80 Decreased By ▼ -0.41 (-2.25%)
TELE 8.72 Decreased By ▼ -0.01 (-0.11%)
TPLP 12.46 Increased By ▲ 0.25 (2.05%)
TRG 62.74 Decreased By ▼ -1.62 (-2.52%)
WAVESAPP 10.35 Decreased By ▼ -0.09 (-0.86%)
WTL 1.73 Decreased By ▼ -0.06 (-3.35%)
YOUW 4.02 Increased By ▲ 0.02 (0.5%)
BR100 11,814 Increased By 90.4 (0.77%)
BR30 36,234 Increased By 874.6 (2.47%)
KSE100 113,247 Increased By 609 (0.54%)
KSE30 35,712 Increased By 253.6 (0.72%)

United States Congressman Jim McDermott has introduced a resolution in the House of Representatives supporting Pakistan-India gas pipeline, saying it a "landmark initiative in bilateral energy co-operation between the two countries."
The resolution, sent to the committee, says that the US national security depends on world peace. It is in the best interests of the US, as facilitator to support the agreement between India and Pakistan to construct a natural gas pipeline, a historic initiative."
It says, "an economically, politically and technically sound natural gas pipeline through Pakistan to India is a vehicle for furthering the national security of the US."
"The initiative would ensure energy security for Pakistan and India, while strengthening the peace process and fostering greater economic co-operation between the two historically hostile countries."
"Linkages and interdependencies between India and Pakistan such as this initiative should be encouraged as they have the potential to contribute to world peace." The resolution reads as:
Whereas, the US always strived for peaceful and cordial relations between India and Pakistan;
Whereas in 1995, before the Iran-Libya sanctions act of 1996 (US) was enacted into law, Pakistan and Iran signed agreement for construction of natural gas pipeline from Iran, which was later proposed to be extended to India, a historic initiative that would be an instrument of harmonising the relations;
Whereas in May 2005, the US dropped its opposition to Iran's application to join the World Trade Organisation;
Whereas, the potential for economic and developmental gain from natural gas will gradually encourage India and Pakistan to reassess their roles and policies in regional conflicts and in national security issues;
Whereas India and Pakistan are among the world's fastest growing economies, New Delhi in projecting growth of seven-percent for the year ending March 2006, while Islamabad expects Pakistan's economy to expand 6.4 percent for the year ending June 2005;
Whereas, the growth is causing South Asia' s energy demands to soar; Whereas, if this trend continues, India alone, by the year 2030 is expected to be dependent on imported oil for more than 90 percent of its oil supplies, according to the International Energy Agency, Paris;
Whereas, several alternative natural gas pipelines are under consideration by India and Pakistan, including the natural gas from Turkmenistan;
And, whereas, the US has a strong interest in encouraging peace between India and Pakistan and it is taking all appropriate actions to ensure that the most economically and politically feasible natural gas pipeline for India and Pakistan is constructed.

Copyright Associated Press of Pakistan, 2005

Comments

Comments are closed.