E-paper Pakistantoday Lahore 15th Nov, 2011

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LHR pages 15-11-2011_Layout 1 11/15/2011 2:09 AM Page 1

Wedding bells for Reema as cardiologist ‘steals her heart away’ PAGE 18

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Vol ii no 140 32 pages Lahore edition

Qureshi leaves PPP, targets Zardari g

Former FM also resigns from NA, asks ‘patriotic’ MNAs to seek fresh mandate ISLAMABAD ARIF TAJ

Urging the “patriotic” members of the National Assembly as well as the opposition to resign and seek a fresh mandate from the people, former foreign minister Shah Mehmood Qureshi announced on Monday his resignation from the Pakistan People’s Party (PPP) and the National Assembly. “I am announcing this with a heavy heart today because it is not easy to break away from long-time relations. It was the most difficult decision of my life. I am resigning from the Zardari League and the membership of the National Assembly,” Qureshi said in a press conference outside Parliament House. Reportedly, Qureshi is set to join the Pakistan Tehreek-e-Insaaf (PTI) at its public gathering in Ghotki on November 27. Qureshi said the current PPP was not the party of slain former prime minister Benazir Bhutto and President Asif Ali Zardari had buried her politics along with her at Ghari Khuda Bux. “Zardari has disowned and drifted away from the vision of Benazir Bhutto. The PPP existing at present is not the PPP of Benazir Bhutto, this is Zardari League. Zardari is following politics of capitulation. He has converted Benazir’s politics of resistance into politics of perpetuation of his rule. Zardari is ready to put everything, the party, its ideology and its workers at the altar of perpetuating his rule,” said the former foreign minister. Giving reasons for his resignation from the National Assembly, Qureshi said the House had failed to implement resolutions passed unanimously by parliament. Continued on page 04

to greener pastures | page o4

Obama to China: Behave like a ‘grown up’ PROFIT | PAGE 05

pakistantoday.com.pk

tuesday, 15 november, 2011 Zul-Haj 19, 1432

Pakistan and Turkmenistan sign GSPA on gasline g

Pakistan interested in importing 1,000MW of electricity ISLAMABAD

I

AmeR SIAl

N a major leap forward, Pakistan and Turkmenistan on Monday signed the Gas Sale Purchase Agreement (GSPA) for the proposed $7.6 billion TurkmenistanAfghanistan-Pakistan-India (TAPI) gas pipeline that will pave the way for the supply of 3.2 billion cubic feet of natural gas per day (bcfd) from the South Yolotan/Osman and adjacent gas fields to south Asian states. Both countries have agreed on the gas sale price of $360 million cubic meter (mcm) at the Turkmenistan-Afghanistan border after deduction of $29 mcm as transit and transportation cost through Afghanistan. The cost will be $10.28 mmBTU. The base price comes to 70 percent of Brent oil parity in the mid country delivery point of Multan. The contract price formula comprises basket fuels of HSFO 380 centistokes (cst), HSFO 180 cst and Gasoil 0.5 sulphur, is based on prices of Singapore quotation of Platts oil gram. To share the risk of transportation and transit variability through Afghan territory, both countries agreed to a risk-sharing formula. The agreement also contains clause for gas price review after five years. Prime Minister Yousaf Raza Gilani and Turkmen President Gurbanguly Berdimuhammadov witnessed the signing

of the agreement on GSPA relating to TAPI gas pipeline by the Managing Director of Inter-State Gas System Mubeen Saulat and Chairman of Turkmenistan Gas Trade Concern Amanali Hanalyev. An official source said the price of gas had remained the major outstanding issue. Pakistan wanted the buyers to negotiate price jointly with the seller, but Afghanistan and India negotiated a price on bilateral basis with Turkmenistan. The base price number agreed by the countries would be tendered at the final signing of GSPA by the four participating countries, which is expected to be signed in the next few weeks in Ashgabat. The process for hiring transaction adviser is expected to be completed by December 2011. The project will take between four to five years to complete after signing of all the contracts. Initial feasibility study of the project was conducted in 2004. The momentum on TAPI project negotiations picked up after mid 2010 and in December 2010 Inter Governmental Agreement (IGA), Gas Pipeline Framework Agreement (GPFA) and Heads of Agreement (HOA) were signed in Turkmenistan. Several rounds of bilateral negotiations were held between Turkmenistan and Pakistan on TAPI gas price ending in October, 2011. Continued on page 04

piCture | page 24


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