Work on gas pipeline to start soon as Pak, Iran complete all formalities

Islamabad, Jun.4 (ANI): Pakistan and Iran have finalised all formalities regarding the gas pipeline, and the ground work on the project would start soon following a survey, Pakistan Petroleum and Natural Resources Minister Syed Naveed Qamar Shah has said.

Responding to a question in the National Assembly regarding the progress made on the much publicised pipeline project, Shah said once completed, Pakistan would receive 750 million cubic feet of natural gas per day from Iran, The Daily Times reports.

Shah also informed the house that the project would be of great help to address the massive power shortage in the country, as 5,000 megawatts of electricity is likely to be produced utilising the gas from the pipeline, which has been termed the ‘peace pipeline.’

Out of the total 7.6 billion dollars which would be incurred on the project, Pakistan expects to spend 1.65 billion dollars.

Earlier, the said pipeline was to be extended to India also, but it backed out of the project, as Pakistan refused to forego its demand for a hefty gas transit fee.

The IPI project was conceived in 1995 and after almost 13 years India finally decided to quit the project in 2008. (ANI)

Land valuations ‘not directly linked to rate increases’

The Queensland Government says higher residential land valuations should not automatically lead to higher rates.

Valuations just released show an average 11 per cent rise in Brisbane from 2008 to 2009 compared with a 5 per cent drop on the Gold Coast.

Natural Resources Minister Stephen Robertson says local councils use several factors to decide their rates.

“As we always say when we issue these valuations, this does not mean that rates will increase or indeed decrease as a direct result of these valuations,” he said.

“While local governments do take valuations into account in setting rates, that is just one of a number of measures.”

Talks underway to resolve fight over land valuations

Last minute talks are being held to try to resolve a dispute over changes to Queensland’s land valuation laws.

The Queensland Government says the amendments will be debated in Parliament this week, after a fortnight’s delay.

Business and property groups say the new laws will lead to massive increases in land tax bills.

Natural Resources Minister Stephen Robertson denies that, but he has foreshadowed changes.

“We have said all along we are prepared to meet legitimate concerns in how we are progressing this matter,” he said.

“Discussions are continuing with the Property Council to meet a number of their concerns.

“I would hope that we’ll have resolutions to those concerns over the next 24 hours so let’s see what comes out of that.”

However, property valuer and consumer advocate Iain Herriot says the State Government is trying to recoup revenue lost when it sells its assets.

Mr Herriot says it will increase taxes for the average investment property owner by $1,500 a year.

He says Queensland is the first state to change its valuation laws.

“Somebody has come up with a bright idea,” he said.

“Mr Robertson’s been led down the path – he’s failed to consider the implications and the affects and how this will impact on the average Queenslander.

“The flow-on affects to the general economy will be horrendous.

“The government just doesn’t have the resources to do what its proposing to do – it doesn’t have enough valuers.