ISLAMABAD: The Iran-Pakistan pipeline would help Pakistan to overcome 40% of its mushrooming energy needs, advisor to the Prime Minister Dr. Mirza Ikhtiar Baig said on Tuesday.
The gas pipeline agreement between the two countries was a milestone in the history of both nations, as it was the first step towards regional cooperation and economic integration, Baig said while speaking to media persons on Tuesday.
Baig said that the pipeline would be completed at a cost of $1.3 billion in time to start delivery of 21.5 million cubic metres of gas per day to Pakistan by December 2014. The pipeline’s funding would come from a range of sources, he added.
Iran would also establish an oil refinery in Gwadar to develop the coastal city and open the border between the two neighbouring countries to enhance trade, he said.
The PM’s advisor further said that President Asif Ali Zardari was interested in trade and economic ties with regional countries.
Baig said that the Gwadar Port’s operational handover to a Chinese firm will promote Pakistan’s trade and economic relations with Central Asian countries.
DND
