Economics & Business

Pakistan, Iran finalizes IPI gas pipeline deal

ISLAMABAD: Pakistan and Iran have resolved all the issues regarding the Iran-Pakistan-India gas pipelines project and the Presidents of the two countries will soon sign the agreement in Teheran. President Pervez Musharraf and Iranian President Mahmood Ahemdinejad during their hour long talks at Aiwan-e-Sadr, in Islamabad on Monday reached the agreement resolving all issues regarding the seven point five billion dollar gas pipeline project.

The two sides underscored that the gas pipeline project would also help promote peace and friendship between the two countries. The Iranian President responded positively to President Musharraf proposal to extend IPI gas pipeline to China saying that it would be beneficial for all the countries concerned.
Keeping in view Pakistan’s electricity shortage President Ahmedinejad agreed to provide eleven hundred megawatt electricity to Pakistan. Iranian Energy Minister would soon visit Pakistan to conclude an agreement in this regard.

The two Presidents held wide ranging talks covering whole gamut of bilateral relations, and regional and international issues of vital importance. The two leaders also discussed the situation in Afghanistan and expressed their resolve for peace and stability in that country which is essential for the whole region. Reports suggest that on bilateral front the two leaders agreed that there was a vast potential for enhancing economic, trade, commerce and joint ventures between the two countries. The two sides identified areas of cooperation as Teheran and Islamabad have already signed Preferential Trade Agreement which would help boost trade and commerce between Pakistan and Teheran.

The two leaders held exclusive meeting which lasted for thirty minutes before the two Presidents were joined by their respective delegations. After the talks, Foreign Minister Shah Mahmood Qureshi told media persons that President Ahmedinejad has extended an invitation to President Pervez Musharraf to visit Teheran for signing the IPI gas project. He said the Foreign Ministers of the two countries have been assigned the responsibility to work out the visit. President Musharraf was assisted in the talks by Foreign Minister Shah Mahmood Qureshi and Minister for Water and Power Raja Pervez Ashraf while the Iranian President was aided by Foreign Minister Manochahar Mutaqi and Commerce Minister Masood Mir.

Pakistan wants early completion of IPI project: PM
ISLAMABAD: Prime Minister Syed Yousaf Raza Gillani has said that Pakistan want to see early completion of Iran-Pakistan-India gas pipeline project to meet its energy requirements. He said this in a meeting with Iranian President Mahmood Ahmedinejad here on Monday. The Prime Minister said Pakistan wants to further strengthen the existing bilateral relations with Iran in the fields of energy, trade and economy.

He said, “We want to see early completion of Iran-Pakistan-India gas pipeline project to meet our energy requirements.” Syed Yousaf Raza Gillani stressed the need to expand the trade volume between the two countries. The two leaders also discussed various matters of mutual interest and bilateral relations. The Iranian President said that all the impediments in the way of bilateral trade should be removed to enhance the existing volume of trade for the benefit of the two countries.
He said his country will help Pakistan to overcome its energy crisis and wants the early completion of the IPI project. -SANA

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Rubab Saleem

Rubab Saleem is Editor of Pakistan Times

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