SLAMABAD - Pakistan and Iran on Monday settled all issues regarding the Iran-Pakistan-India (IPI) gas pipeline and the formal agreement in this regard would be signed soon in Tehran. Iranian President, Mahmoud Ahmadinejad, who made a brief stopover in Islamabad on his way to Sri-Lanka and India, also told President Pervez Musharraf, during their meeting that Tehran would provide 1100 MW of electricity to Islamabad to help it overcome the power shortage. Iranian leader also responded positively to the Pakistani proposal about allowing the gas pipeline through its territory to provide gas to China all along the Karakoram Highway. According to officials here, President Musharraf and his Iranian counterpart, in over an hour-long one-on-one meeting, discussed bilateral ties, different issues faced by the region and the Islamic world and the trilateral cooperation between Iran, Pakistan and Afghanistan aimed at regional peace and stability. Later, the two leaders were joined by their respective delegations. The Iranian President also met Prime Minister Syed Yousaf Raza Gillani later at the PM House. Prime Minister Gillani told the Iranian leader that early materialization of IPI gas pipeline agreement would usher in prosperity and further bring the regional countries closer. According to officials, privy to meeting between President Musharraf and his Iranian counterpart, the talks between the two leaders were positive and covered all aspects of their wide-ranging relationship. The two leaders said the IPI project would promote peace and friendship. They said the two foreign ministers would work out a mutually convenient date for signing the landmark agreement. Both the leaders expressed satisfaction over the settlement of all issues that had delayed a final agreement and hoped the project would help meet future energy needs of Pakistan. The Iranian President said that the 1100 MW of electricity to be provided by his country to Pakistan would help meet its needs, particularly in Gwadar and adjoining areas. The two leaders also discussed the situation in Afghanistan and stressed that peace and stability was vital for the region. President Musharraf and President Ahmadinejad also reviewed the economic relations and said that they needed to be further upgraded to bring those at par with their political and diplomatic ties. After the talks, Foreign Minister Shah Mahmood Qureshi said the two countries already had a Preferential Trade Agreement and a Joint Investment Company and it was hoped the trade would soon touch the one billion dollars mark. About Pakistan's stance on Iran's nuclear issue, he said we supported the Iran's use of nuclear energy for peaceful purposes, under the IAEA guidelines. Earlier, President Pervez Musharraf and Prime Minister Syed Yousuf Raza Gilani received the Iranian President upon his arrival at the Aiwan-e-Sadr, according to official statement. A red carpet was rolled out for President Ahmadinejad as he arrived at the Aiwan-e-Sadr. A smartly turned-out contingent of the armed forces presented him salute. Iranian President reviewed the guard of honor and national anthems of the two countries were played. Ahmadinejad later held talks with Prime Minister Yousaf Raza Gillani, his first meeting with an official from a new government that took power last month. Gillani said the early materialisation of the Iran-Pakistan-India gas pipeline agreement will usher in prosperity and further bring the regional countries closer. He said Pakistan is keen to promote bilateral relations with Iran in all fields and said it would purchase more electricity from Iran to help meet its growing energy needs. He said Iran is an important country and Pakistan values its cooperation with it for promoting peace and stability in the region. The two leaders also discussed regional and international issues. On the issue of terrorism and extremism, the Prime Minister said the government is pursuing a comprehensive policy to overcome the menace. The multi-pronged strategy including political dialogue, socio-economic development and security measures will effectively confront the problems, he said. The Prime Minister referred to the dire need for food and energy security and said the two countries need to work together to meet these challenges. He said Pakistan and Iran should further promote their brotherly ties as they share common faith, history, culture and heritage. President Ahmedinejad congratulated Prime Minister Gillani on assuming his office and said Iran accords high priority to its relations with Pakistan and would like to further enhance them in all fields particularly commerce and trade. He said the existing bilateral relations between the two countries need to be enhanced to their true potential. The Iranian President said Iran believes that the progress and prosperity of Pakistan and Iran were inter-linked as they are like one soul in two bodies. He said the agreement on IPI will soon be finalised and his government will welcome inclusion of China in the project. He said Iran would extend its cooperation in the field of food and energy sectors, besides promotion of trade and economic ties. President Ahmedinejad expressed his condolence over the tragic death of Mohtarma Benazir Bhutto. He extended invitation to the Prime Minister to visit Iran. The Iranian president arrived on Monday morning at Chaklala Airbase in Rawalpindi and was greeted by an air force honour guard and received bouquets from a young boy and girl. He is on his way to Sri Lanka later Monday and will also visit India in coming days. NNI adds: None of the PML-N Federal Ministers attended the reception at Aiwan-e- Sadr which was held to accord formal welcome to the Iranian President. PML-N senior Minister Ch Nisar Ali Khan, Petroleum Minister Khwaja Muhammad Asif and PML-N President Mian Shahbaz Sharif were not present in Islamabad as they have gone to Dubai to meet PPP Co-Chairman Asif Ali Zardari to discuss the thorny issue of Judges' reinstatement. Railways Minister Sardar Mahtab Ahmad Abbasi, Commerce Minister Shahid Khaqan Abbasi, Finance Minister Ishaque Dar, Begum Tahmina Daulatana and Khwaja Saad Rafiq also did not participate in the Presidency function on occasion of visit of the Iranian President.