Amidst continuous rising gas prices in the country, the Pakistan Industrial and Traders Associations Front (PIAF) has called for initiating speed work on 80-kilometer of the Iran-Pakistan gas pipeline project within its borders after a long delay and hoped that it would proceed expeditiously, as the project is bound to bring an industrial revolution in Pakistan. PIAF Chairman Faheemur Rehman Saigol in a joint statement along with senior vice chairman Nasrullah Mughal and vice chairman Tahir Manzoor Chaudhary, said the businessmen had already 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. Faheem Saigol said that the Iran-Pakistan gas pipeline project began in 2013, and several deadlines have already been missed due to long-standing US sanctions against Tehran. According to reports, Pakistan was trying to negotiate with Tehran to avoid a whopping $20 billion in liabilities as the long-stalled project’s deadline approaches this year. Last year, government also approached Washington, requesting a solution to the lingering imbroglio, but received no response. Nasrullah Mughal said that we are 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 favour 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. It is to be noted that in a landmark development, the Cabinet Committee on Energy had approved the initiation of work on the 80-km segment (Iranian border to Gwadar) of the Iran-Pakistan Gas Pipeline project, and deferred the filing of application for waiver of US sanction on the project due to geo-political situation. A summary of Petroleum Division regarding IP Gas Pipeline was presented to the Cabinet Committee on Energy in its meeting, giving its nod to the recommendations of the Ministerial Oversight Committee (MOC) for the IP Project. The committee recommended to start work on the 80-km segment of the pipeline inside Pakistan i.e. from Pakistan border up till Gwadar in the first phase. Tahir Manzoor Chaudhary said that the project will be executed by Inter State Gas Systems (Pvt) Ltd and will be funded through Gas Infrastructure Development Cess (GIDC). All the concerned divisions gave a positive nod to move ahead with the project to ensure gas supplies to the people of Pakistan, thereby addressing the increasing energy needs of the country. Pakistan has decided to kick -off construction work on 80 kilometre portion of Iran-Pakistan gas pipeline project- from Iranian border to Gwadar- to escape a potential penalty of $18 billion, in case Tehran decided to move to the Paris-based International Arbitration for non-execution of the project. Initially, it has been decided that in first phase of IP project work on 80-km portion from Pak-Iran border to Gwader will be started.