ISLAMABAD - Iran has offered India and Pakistan to use the forum of trilateral gas pipeline, which Iranians call a "Peace Pipeline" to defuse South Asian tensions triggered in the backdrop of Mumbai terror incident. Well-placed diplomatic sources told TheNation that international crude oil dip to a four-year low at $37 a barrel had compelled Iran to have concessionary view of both the prospective buyers, namely India and Pakistan. Earlier, Iran was rigid on periodically reviewing the tariff of pipeline gas to flow through Pakistan up to India. "Both India and Pakistan are prospective buyers of the Iranian gas to flow through the transnational pipeline while the project lingered on chiefly due to the US opposition to it," the sources observed. "Now the Iranians believe that three primary partners to the project could use this challenging situation of tensions between Pakistan and India as an opportunity by accelerating talks on the IPI," they added. It is pertinent to be noted here that India has been slipping away from the talks on the tripartite pipeline since it had singed nuclear pact with the US. After noted reluctance on the part of Indian side to participate in the recent meetings on the IPI, Iran and Pakistan had resolved to go ahead bilaterally as long as India did not come along. The sources said the Iranians had conveyed their proposal to accelerate IPI negotiations in a bid to provide an opportunity for Pakistan and India dialogue to Islamabad through Shaukat Tarin, the Advisor to Prime Minister on Finance currently in Tehran for ECO conference. The proposal Tehran would also forward to New Delhi in due course through appropriate diplomatic channels, they added. Meanwhile, according to a message received from Pakistan Embassy in Tehran, Adviser to the Prime Minister on Finance and Economic Affairs, Shaukat Tarin represented the Government of Pakistan in the 3rd Ministerial meeting of the Ministers of Finance and Economy of the ECO member countries held on 23rd December. The meeting at Tehran that was inaugurated by the President of Iran, Dr Mahmoud Ahmadinejad discussed the possibility of enhancing economic cooperation, financial management, banking, taxation, audit and corporate laws, etc. The Ministers also reviewed the progress achieved by the organization with regard to operationalization of the ECO Trade and Development Bank, the ECO Trade Agreement, Agreement on Promotion and Protection of Investment as well as ECO Re-Insurance Company. The Ministers adopted Tehran communiquT at the conclusion of the meeting, which, inter alia, recommended constituting an expert group from ECO member countries to study the current global financial crisis and combine recommendations to offset its adverse implications for the ECO member countries. The Adviser on Finance also held bilateral meetings with the Finance Minister and the Foreign Minister of Iran separately. During these meetings, the two sides discussed the entire gamut of relations between Pakistan and Iran with focus on exploring ways and means to enhance economic cooperation between the two countries. The Ministers were of the view that the finalization of IPI gas pipeline project would add greater economic content to relations between the two countries. Shaukat Tarin also held a detailed meeting on the sidelines of the Ministerial Conference with his counterpart from Azerbaijan and discussed in detail the possibilities to enhance economic cooperation between the two countries. Late in the evening, the Adviser left for Pakistan.