New Delhi, Jun 27 (UNI) Pakistan today sought to allay India's concerns on the security of the 7.4 Billion US Dollar Iran-Pakistan-India (IPI) gas pipeline project and called for making it a ''pipeline of peace'' between the two countries.
Pakistan Foreign Minister Shah Mahmood Qureshi who held talks with External Affairs Minister Pranab Mukherjee here, said there were international mechanisms for the security of such projects like which guaranteed the 1960 Indus-Water Treaty between the two countries.
''We are not trying to re-invent. International security mechanisms are there. There is need and there is will on both sides...Pakistan will address the security issue...This is a project which is mutually beneficial. Pakistan gains, India gains and obviously Iran gains,'' he added.
Mr Qureshi who is also Pakistan's Petroleum Minister, also held a meeting with Petroleum Minister Murli Deora and said the two countries had settled the transit issue.
Mr Mukherjee and Mr Qureshi underlined the importance of the pipeline project in the light of the soaring energy prices and pressing developmental needs in both countries.
Mr Mukherjee said he and Mr Qureshi had discussed the IPI pipeline project and both were hopeful of resolvng any differences on the issue from all aspects.
The Pakistan Foreign Minister said energy prices had ''gone berserk'' and both countries suffered from immense subsidies on petrolem products.
''This project can help in mitigating our energy shortage,'' he said while calling upon India to make it clear whether they wanted to take some time (in taking a decision.) UNI RB RP RAI1951