ISLAMABAD:The Petroleum Division (PD) of Energy Ministry on Monday rejected a news item appearing in a section of the press regarding pace of the Pak Stream Gas Pipeline (PSGP) project, saying it was ”progressing ahead to the satisfaction of the both Russian and Pakistani sides.”
It termed the report ‘misleading’ which was aimed at creating confusion between the two parties. “Technical teams of the both sides are constantly engaged with each other and are working on the legal draft of the Shareholders Agreement (SHA),” the PD said in a news release.
The PD further elaborated that “in such negotiations, there always remains the need to consult each other on complicated issues while remaining within commercial and legal framework so as to achieve a consensus.”
In addition to the SHA, it said the both sides were coordinating on other ‘instruments/agreements’ that needed to be finalized.
“The progress on the project is as per schedule and both the governments of the Russian Federation and the Republic of Pakistan are working jointly to ensure its implementation at the earliest,” the PD reiterated.