Pakistani businessmen have welcomed the groundbreaking of the Iran-Pakistan gas pipeline and called for on-time implementation of the project.

Pakistani businessmen have welcomed the groundbreaking of the Iran-Pakistan gas pipeline and called for on-time implementation of the project.

Presidents of Iran and Pakistan jointly inaugurated the laying of pipeline at Gabd in Iran on Monday after nearly 20 years of negotiation on the project.

Both presidents, Mahmoud Ahmadinejad and Asef Ali Zardari, expressed their satisfaction for starting Peace Pipeline construction operation, and deemed the completion of the project for the benefit of promotion of peace in the region.

Ahmadinejad and Zardari, emphasized upon using the capabilities of the two countries, highlighted the economic, political and security cooperation between Tehran and Islamabad.  Peace Pipeline is the most important evidence for Iran-Pakistan joint cooperation, and according to agreements, Iran has been committed to invest $ 500m in pipeline construction in Pakistan.

The Lahore Chamber of Commerce and Industry (LCCA) President Farooq Iftikhar said in a statement that the Lahore Chamber had been pressing the government hard for procuring the required energy resource from whatever source suits to it to relieve the country of the mounting shortage of gas.

The LCCI, he said, was convinced that Iranian source was the most feasible, financially as well as from the point of view of proximity.

He observed the Iran-Pakistan gas pipeline would serve Pakistan’s national interests and go a long way in mitigating the energy issues, asserting that an early completion of this mega project of national importance would be a great favor to the business community as its very survival was at stake at the moment.

The availability of gas would also help government achieve economic targets set for the year 2013.