Pakistan and Iran have agreed to speed up the execution of an ambitious multi-billion dollar gas pipeline project which will help to meet some of the needs of the energy-starved country.

A Pakistan Foreign Office statement said today, that both the countries have decided to formulate a plan to confront and address the challenges and have effective coordination and cooperation on this noteworthy Project. The announcement was made days after a breakthrough pact between Iran and global powers over the issue of its controversial nuclear programme.

Yesterday a meeting was held between Shahid Khaqan Abbasi, Minister for Petroleum and Natural Resources, and his Iranian counterpart Bijan Namdar Zangeneh in Tehran. The decision to fast track the Iran-Pakistan pipeline was an important outcome of this meeting. The statement also said, it was agreed that a meeting will be held soon between the experts from both sides to review parameters for accelerating work on I-P Gas pipeline.

Iran has almost completed its work of the $7. 5 billion project, but Pakistan has run into recurring problems in paying for the 780-kilometre section to be built on its side of the border.

Last March, The long-delayed project was inaugurated when Iran's former president Mahmoud Ahmedinejad came to Pakistan.