Islamabad Chamber of Commerce and Industry (ICCI) lauds the decision of Government for speeding up the pace of work on the Pak-Iran Gas Pipeline Project.

Yassar Sakhi Butt, President ICCI welcomed the resumption of Pak-Iran dialogue process on gas pipeline project and said that the completion of this project would greatly help in overcoming country’s power problems and improving energy supply, especially to manufacturing and industrial sectors.

ICCI President said that gas suspension, particularly to textile industry has immensely damaged the productivity of this sector while all other sectors of the economy including agriculture, large scale industries, SMEs and international trade have suffered due to power shortage. However, he hoped that gas supply from Iran would mitigate energy woes of business and industry people.

Yassar Sakhi Butt said that Iran and Pakistan has 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 was of the view that completion of Pak-Iran gas pipeline project would bring energy revolution in Pakistan and also strengthen the bond between Pakistani and Iranian nation.

He said that huge gas reserves have been explored in Zain Koh which were much larger than the Sui reserves, therefore Government should execute this project on priority basis to bridge the rising gap between demand and supply of gas.

He further said that trilateral summit among Pakistan, Iran and Afghanistan would bring stability in the region and enhance mutual cooperation in different sectors. He said that Muslim countries should unite to face future economic challenges as they are rich in natural resources and minerals.

ICCI President called for reduction of tariffs and removal of non-tariff barriers among Pakistan, Iran and Afghanistan and said that products should be traded at reduced duties which would give a boost to mutual trade and economic relations.