KARACHI  - Naseem Anwar, Senior Vice Chairman, SITE Association of Industry highly appreciated the courageous steps taken by Asif Ali Zardari to enter into an agreement with Islamic Republic of Iran regarding $7.5 billion gas pipeline project.

He said that the Iran-Pakistan gas pipeline project despite hostilities towards the expansion of ties between two neighboring countries will be a strong approach in accessing safe energy source being the first priority for Pakistan to avail from Islamic Republic of Iran the brotherly country in the region.

“The pipeline project has run into repeated problems, in finding funds and opposition to the project from USA but the democratic government under the dynamic leadership of President Asif Ali Zardari visited Iran and signed a final agreement with Iran wherein Iran and Pakistan agreed that Iran would supply between 750 million cubic feet (21 million cubic meters) and one billion cubic feet per day of natural gas by mid-2015 to Pakistan.”

He further said that building the gas pipeline between Iran and Pakistan is a great and important event, it serves the two nations’ interests and strengthen the bilateral relations.

“No doubt this project is very beneficial for both sides and we support all the progress made so far. The daring steps to pursue the project regardless of US pressure, would help Pakistan to overcome its energy crisis that has led to debilitating blackouts and Closure of our valuable industry creating unemployment at large”, he said.

He said that it is more encouraging that Iran has also promised a $500 million loan to Pakistan to complete the pipeline project.

“It would be reckoned as most remarkable achievement of the democratic government which, in the prevailing situation has been successful to proceed with this vital project since it was pending for a long period of almost two decades, the groundbreaking of $7.5 billion Iran-Pakistan gas pipeline will be performed during the current month on the Pak-Iran border by the Presidents of both the countries”, he said.