Tehran move for international arbitration: Iran extends IP gas line project deadline by 180 days
Iran has extended the deadline on the much-delayed IP gas line project by 180 days till September 2024. If Islamabad fails to positively respond, Tehran will move the Paris-based International Arbitration, seeking a penalty of $18 billion, top government officials told The News.
“However, Iran has offered to send its legal and technical team to Pakistan to jointly work out a win-win strategy before the end of 180-day deadline so that the project is materialised and arbitration is averted.”
The Iranian technical jointly work out a win-win strategy before the end of 180-day deadline so that the project is materialised and arbitration is averted.”
The Iranian technical and legal experts team was earlier scheduled to arrive in Pakistan on January 21-24 for talks to find out a solution to materialise the much-delayed IP gas line project. But it could not reach Islamabad because of the tensions between the two countries.
Now the Iranian experts team, the officials said, would come to Pakistan in the second week of February. The coordination committees from both the sides would find out a doable strategy to materialise the project. The Iranian team would comprise experts in international relations laws, legal framework and engineers.
The project has been facing delays since 2014. Pakistan received the last notice almost 25 days ago.
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