Pakistan Committed To Expand Eco Ties With Iran

Islamabad, Feb 7, IRNA – Pakistan is committed to develop relations with Iran in various fields and in particular in field of economy, Pakistani advisor to the Prime Minister on finance Abdul Hafeez Shaikh said on Monday. He made the remarks in an interview with IRNA. “Pakistan is willing to provide part of its energy needs by Iran gas and it is committed about implementation of Iran to Pakistan gas pipeline project in the near future,” Pakistani advisor to the Prime Minister on finance underlined. The official added that there is enormous potential to enhance trade ties between Iran and Pakistan. Abdul Hafeez Sheikh said that Iran and Pakistan are united by the bond of history, faith and culture. He said that officials of Iran and Pakistan had spent a productive day to bring the bilateral ties closer. He added that different groups were set up during the bilateral meeting to discuss different issues. The advisor urged the businessmen of the two countries to work together to enhance cooperation in trade sector. Abdul Hafeez Sheikh was minister to finance but the stage secretary had introduced him as advisor to the Prime Minister on finance because his membership of the Senate was suspended by the Supreme Court in an election matter. A delegation headed by Iran’s Vice President for International Affairs Ali Sa'eedlou is in Pakistan for a three day official visit to discuss bilateral as well as international affairs with Pakistani officials. During the last year, trade volume between Pakistan and Iran had reached 1.5 dlrs billion, which was below the potential of the two countries. Iran has always declared that it is ready to complete and inaugurate the proposed Iran-Pakistan gas pipeline project. Despite threat of sanctions from the United States, Pakistan refused to abandon the project, saying it was beyond the scope of US sanctions imposed against Tehran. Despite strong reservations raised by Washington over Pak-Iran energy trade, Islamabad is committed to strengthening bilateral relations with Tehran, including 7.4 dlrs billion Iran-Pakistan gas pipeline project, brushing aside the US threats of sanctions. The 2,700 kilometres-long pipelines was to supply gas for Pakistan and India, which are suffering from a lack of energy resources, but India has been evading talks. Last year, Iran and Pakistan declared they would finalize the agreement bilaterally if India continued to be absent from the meetings. According to the project proposal, the pipeline will begin from Iran's Assalouyeh Energy Zone in the south and stretch over 1,100 kilometers in Iran. In Pakistan, it will pass through Baluchistan and Sindh. But officials now say the route may be changed if China agreed to the project. The gas will be supplied from the South Pars Field. The initial capacity of the pipeline will be 22 billion cubic meters of natural gas per annum, which is expected to be later raised to 55 billion cubic meters. It is expected to cost 7.4 dlrs billion./end