ISLAMABAD: The government on Wednesday reiterated its stand on the Pakistan-Iran gas pipeline project, stating that the project was still viable, DawnNews reported.
''There are always a multiplicity of funding sources which are available for any project,'' said Foreign Minister Hina Rabbani Khar when asked about the Chinese bank's apparent withdrawal, after her meeting with her Swedish counterpart here today.
''This is a fairly viable project and we hope we will not have any problem in trying to find ways and means of ensuring its funding,'' she said.
Dawn had published a story on Wednesday which said a consortium led by the Industrial and Commercial Bank of China (ICBC) has ‘run away’ from providing financial advisory services for the Iran-Pakistan gas pipeline project apparently because of US opposition to the plan and forced the government to look for alternative financing options.
Reacting to the report, the petroleum ministry also said that it was engaged with the consortium in securing finance for the project.
The ministry clarified in a statement that ICBC had filed an application seeking regulatory permission from China's central bank.
It was wrong to say that the bank has refused to play its role in the project, it added.
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