LAHORE, Jan 31: Tehran sees no threat of war in the region due to the Iran-Pakistan gas pipeline, which was formally approved by Islamabad on Wednesday.

`It is a `peace` pipeline being laid to the economic benefit of the two neighbouring nations. We see no threat of conflict in the region because of the project,` says Dr Ali Akbar Walaity, senior adviser to Iran`s supreme leader.

`Both Iran and Pakistan are watching theirnationalinterests through the gas pipeline and we are happy at the final approval of the project by Islamabad to end the negative propaganda of the US and other states in this respect,` he told a press conference here on Thursday.

Asked about the penalty Tehran could impose on Islamabad under the agreement because of delay in the executionof the project, he said his country would try to remove all impediments to swift completion of the gas pipeline project.

He said he hoped that both countries would find a solution to any difference on gas tariff.

Replying to another query, he said Islamabad had assured Tehran of the safety of the pipeline passing through its territory.

Dr Walaity, who is former Iran foreign minister, told a questioner that his was a self-sufficient country and sanctions by any power could not defeat it.

Replying to a query, he said Iran was promoting its ties with all Muslim states, including Saudi Arab, and that it had no reason to develop enmity with any Islamic country.

Answering a question, he said that both Pakistan and India should live like good neighbours and avoid any actionthat could strain their bilateral relations.

Asked if Tehran had any reservations about Islamabad`s decision to give Gwadar seaport to China, he said Iran welcomed all decisions of the Pakistani government that could become a source of country`s economic development.

About the US-sponsored `defunct` Regional Cooperation for Development (RCD) organisation, he said the body had been dissolved rather it had been upgraded to become the Economic Cooperation Organisation. He announced that a joint meeting of ECO parliamentarians would be held shortly to activate the body.

Dr Walaity told a questioner that the Organisation of Islamic Conference could not live up to Muslim countries` expectations, as it could not effectively resolve the issues facing them.