Federal Privatisation and Investment Minister Dr Abdul Hafeez Shaikh has supported proposed laying of a gas pipeline from Iran to India via Pakistan, saying it is 'the most economical available option.'
He told IRNA news agency in Islamabad that out of various options under study, tripartite gas project from Iran was the 'most economical and effective.'
Hafeez Shaikh, however, said the government was yet to take a decision as experts had not yet suggested which option was to be availed of, adding two other proposals under consideration are importation of gas from Turkmenistan and Qatar.
He said the import of gas would create job opportunities and enhance investment opportunities in the region.
The minister said: "I think, the import of gas will brighten prospects of investment in the energy sector besides, providing employment."
The country, Dr Hafeez Shaikh said, was in need of gas import to meet its increasing industrial sector and domestic requirements, adding: "The import will cater to energy needs and also pave way for absorption of investment."
The idea of laying the pipeline from Iran to India through Pakistan surfaced in 1990s, but could not be realised due to Pakistan-India tensions. However, the situation between the two nations has improved in recent months.
"Iran is a brotherly country with which we share boundaries. Therefore, even if India is reluctant in this connection, the country has to import gas for its own needs", Dr Hafeez added.
The oil ministers of Pakistan and India are expected to meet soon to take up subject of co-operation in the energy sector, and proposed three-party gas pipeline project.