With N-deal sealed, Pakistan eyes key economic projects with Iran

The deal signed yesterday promises to lift embargoes in return of Tehran's commitment to give up its nuclear ambitions

With a historic deal sealed between Iran and the world powers over its nuclear programme, Pakistan has said the pact will help operationalise the multi-billion dollar Iran-Pakistan gas pipeline and other projects stalled due to sanctions against Tehran.

The deal signed yesterday between the P5+1 countries -- the US, Britain, France, Russia, China and Germany -- and Iran promises to lift embargoes in return of Tehran's commitment to give up its nuclear ambitions.

Pakistan's Minister for Petroleum Shahid Khaqan Abbasi said the work on Iran-Pakistan gas pipeline may start as early as September this year, as the two countries have already signed the project to bring gas to Pakistan.

Minister for Commerce Khurram Dastagir Khan said that several commercial and economic projects are in place and will be operationalised once the sanctions are lifted.

"Trade between the two countries will increase manifold due to the agreement signed by Iran with the world powers," he said.

Prime Minister's Adviser on National Security and Foreign Affairs Sartaj Aziz also welcomed the agreement which is expected to open up a large number of possibilities in energy and other sectors for Pakistan.

"Iran-Pakistan gas pipeline and a number of other projects were affected by the sanctions. As soon as the sanctions are lifted we can very rapidly start the implementation of those agreements and at the same time trade possibilities will expand," he said.