Islamabad Chamber of Commerce & Industry (ICCI) welcomed inauguration of Iran-Pakistan gas pipeline project and termed it as a peace pipeline which would mark a new chapter in the history of Pakistan-Iran bilateral relations.

Zafar Bakhtawari, President ICCI said that the completion of this project would greatly help in overcoming country’s energy problems and improving energy supply, especially to manufacturing and industrial sectors which would ultimately make our industrial units more competitive in the global world.

ICCI President said that the functioning of IP gas pipeline would ensure supply of 750 million cubic feet of natural gas per day and help bridge the energy gap of around 4000MW, required to keep industrial and commercial wheels of the country into perpetual motion.

Bakhtawari was of the view that early completion of this mega project of national importance would be a great favour to the business community and industrialists as most of the industrial units depend on electricity. Thus, execution of this project would provide gas to power producing units which would definitely improve the competitiveness of export-oriented products and enhance country’s exports, he maintained.

He further said that IP gas pipeline will remove the mistrust between Pakistan and Iran which was prevailing since 30 years, adding that it would also help eradicate terrorism and bring prosperity in Balochistan.

Bakhtawari also hailed the recent decision of the Federal Cabinet regarding transfer of Gwadar port operations to a Chinese company and said that Pakistan really values its relations with neighbouring countries and always emphasised on regional cooperation.

He said that Iran and Pakistan are two Muslim countries which have historic brotherly and geographical relations with common faith, which would be strengthened with the passage of time. He said that both the countries have huge trade and investment potential as well as capacity to launch joint ventures in the areas of common interest.

ICCI President said that Iran-Pakistan gas pipeline is an important step forward and its successful operation would inspire the leadership of South Asia to implement another propose project Turkmenistan, Afghanistan, Pakistan and India (TAPI) gas pipeline, subsequently, benefiting the entire region of South Asia.