The business community of Southern Punjab has hailed the lifting of International sanctions against Iran after the UN atomic watchdog announced the country had complied with the terms of last July's landmark deal aimed at scaling down its nuclear programme.
President of Multan Chamber of Commerce & Industry (MCCI) Fareed Mughis A Sheikh said that It is a historical day for people of Iran and now Pak-Iran bilateral trade would be boosted up and joint venture would also be promoted.
With sanctions lifted, Iran plans to swiftly ramp up its exports of oil.
He hoped that now Iran-Pakistan gas pipeline project could be completed without any further delay. He said that in anticipation of the lifting of sanctions on Iran, we are moving forward with two major energy projects: a natural gas pipeline and an electricity transmission line. Together, both projects will alleviate Pakistan's crippling shortages in both electricity and vehicle fuel. Pakistan and Iran signed a $1.5 billion natural gas pipeline deal in 2013. The project has been in limbo as a result of international sanctions on Iran.
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