Turkmen gas project costly, uncertain

TAPI gas pipeline no alternative to Iranian gas

Karzai administration may fail to keep TAPI online

Local exploration, LNG import arrangements unsatisfactory

US, donors support to TAPI unhelpful in resolving Pakistan gas crisis

Islamabad: [Jan 15]

The Pakistan Economy Watch (PEW) on Sunday said Government has been wasting time on a costly and highly uncertain Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project while ignoring the only viable option of importing gas from Iran.

America is opposing Iran-Pakistan Gas Pipeline Project to counter Tehran's influence while throwing full weight behind TAPI to benefit western multinational companies that enjoy control over Dauletabad gas reserves, it said.

Increasing stakes of American elite in the oil and gas giants has become a threat to stability of many countries, said Dr. Murtaza Mughal, President of the PEW.

He said that the US policies have been damaging Pakistan while our government seems reluctant to move forward with plan to import natural gas from Iran despite knowing that there is no proper substitute available.

Dr. Murtaza Mughal said that the performance local oil and gas exploration and production companies remain unsatisfactory while efforts to import LNG could not be materialised.

He said that the proposed TAPI, if materialised, may not help Pakistan in the long run as it is a part of US hidden agenda behind war on terror which can be best described in two words—oil and gas.

The Nov 25 statement of US Ambassador to Pakistan in which he opposed Iran gas pipeline and supported gas import from Turkmenistan was contrary to the facts and our interests, he observed.

Dr. Mughal said that Pakistan cannot ignore global energy giant Iran, on the cost of its economy, to fulfil objectives of controversial US foreign policy.

He said that the top government functionaries in Islamabad are assuring everybody that the Iran gas plans remain unchanged but the facts appears otherwise.

Peace pipeline is a practical idea in comparison to unfeasible TAPI which will cross Afghanistan's Southern regions, he noted.

The weak, inefficient and corrupt Karzai administration may not be capable of taking care of the mega project, he feared.


Dr. Murtaza Mughal

Cell:  0321-5157671

President Pakistan Economy Watch

Please send Complaints/Suggestions to


UIG completes acquisition of Network Microfinance Bank
Providing credit to poor remains a challenge: Mian Shahid

Islamabad: Jan 15
United International Group (UIG) has completed acquisition of Network Microfinance Bank Limited (NMB), which will be renamed as Apna Microfinance Bank.

The NMB, previously part of the JS Group, which started operations in January 2005, will prove an asset providing an opportunity to support unbanked population, said Mian Shahid, Chairman UIG.

Speaking at a ceremony, he said that poor and low-income groups remain deprived of proper financial services which is impeding their development.

He said that 56 per cent of the adult population has no access to formal financial services while only 10 per cent of SMEs are served by banks resulting in socio-economic disparities.

Traditionally, banks would ignore providing loans to poor therefore microfinance banks should come forward to bridge the financial divide, he stressed.

Mian Shahid said that SME sector is backbone of the economy which can minimise inequality only if strengthened. Some policies need to be revisited, he demanded.

Apart from conventional banking, Pakistan also needs a strong banking system based on mutual trust, local accountability, participation, creativity and community involvement, he observed.

Microcredit can cause reduction in interest rates by 30-60 per cent and increase the level of savings among the poor, he informed.

He said that Bangladesh, Kenya, India, South Africa, and Sri Lanka have been performing well in the micro finance sector while we have yet to go a long way.

Mian Shahid said that we will focus on providing financial services to farmers, agriculture market, small sized businesses and individuals.

He said that recent decision by Pacra to maintain "A" credit rating of United Insurance Company, the main component of UIG and bringing Saudi Pak Insurance Company back to profit proves that dedicated teamwork and caring management model always pay dividends.

Ali Asad,
Cell: 0321-2047618. Ph: 0213-581-0441/2
Address: 212 Clifton Centre, Clifton, Karachi.

About United International Group:
UIG Member Companies include United Insurance Co, Saudi Pak Insurance Co, Apna Microfinance Bank, Tawasul Insurance LLC, Abu Dhabi, United Track System (Pvt.) Ltd., United International Agro Services, United Software & Technologies International (Pvt.) Ltd. & United International Farms. The Group is in process of expansion…

Link: http://www.opinion-maker.org/2012/01/jundallah-and-israel/ (sent via Shareaholic-Publishers)

False Flag
A series of CIA memos describes how Israeli Mossad agents posed as American spies to recruit members of the terrorist organization Jundallah to fight their covert war against Iran
Buried deep in the archives of America's intelligence services are a series of memos,


Attention: Respected Sports Editor/Reporter






Karachi: Aga Khan University (AKU) Sports and Rehabilitation Centre is organizing its 10th AKU Inter School/Collegiate Basketball (for boys under-19) Tournament commencing from Friday, January 27, 2012 at the AKU Sports and Rehabilitation Centre Gymnasium.

Interested Schools/Colleges are requested to contact Riaz Akbar Contractor, Chief Organizer and Manger, AKU Sports Centre at Ph: 3486 1665, 3486 1660.Fax: 3493 4294, 3493 2095. Email: riaz.contractor@aku.edu latest by Monday, January 23, 2012 for registration.

Chairman, Organizing Committee