ISLAMABAD, Pakistan, Aug. 22 (UPI) -- Pakistan is considering new taxes to help generate funds necessary to build its part of a natural gas pipeline from Iran, sources said.
Pakistani energy officials last week said Islamabad may look to foreign investors to help pay for the construction of a pipeline carrying natural gas from Iran. Islamabad is considering a new tax system to help secure part of the billions of dollars needed to build the project at home, sources close to the project told Pakistani newspaper The Nation.
"The Infrastructure Development Levy is being proposed to finance all gas import projects including (the Iran project), the Turkmenistan-Afghanistan-Pakistan-India (gas pipeline) and liquefied natural gas imports," the source was quoted as saying.
Islamabad, the source added, aims to generate around $300 million per year through the tax.
Pakistani energy company Inter State Gas Systems announced a Monday deadline for the submission of an expression of interest for the natural gas pipeline. In its latest statement, the company said that deadline was extended to Sept. 10.
