ECC approves $200m equity share for TAPI gas pipeline

ISLAMABAD: The Economic Coordination Committee has approved two hundred million dollars equity share of Pakistan for the Turkmenistan-Afghanistan-Pakistan-India gas pipeline project.

The meeting was held in Islamabad and presided over by Finance Minister Mohammad Ishaq Dar.

The ECC also approved release of $12 million out of this share for the preliminary works in four equal tranches starting from next month as per the disbursement plan. 

Overall cost of TAPI project is $10 billion and Turkmenistan has agreed to contribute 85 per cent of equity.

The Economic Coordination Committee also approved cash support of 4.4 billion rupees for PIA enabling the airline to improve its products and services.

It also approved Rs64 million for payment of two months' salary for employees of Pakistan Machine Tool Factory, Karachi.

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