THURSDAY SEPTEMBER 08: Pakistan keen to import 2,000 megawatts power from Iran: bilateral trade to be enhanced to $5 billion

ISLAMABAD: Pakistan on Wednesday expressed desire to import 2000 MW electricity from Iran to meet the growing requirement of electricity as both sides wanted to enhance annual bilateral trade to $5 billion from the current $1.5 billion, through co-operation in various fields.
Finance Minister Dr Abdul Hafeez Shaikh and Iranian Foreign Minister Dr Ali Akbar Saleh on Wednesday inaugurated 18th Session of the Pakistan-Iran Joint Economic Commission (JEC). Both sides would discuss the ways and means to enhance co-operation and decision taken during the JEC at a news conference on Thursday.
Hafeez said that Pakistan would discuss the modalities for import of 2000MW electricity from Iran during the meeting. He said that Pakistan is working on a fast track basis to build infrastructure for import of gas from Iran. He said that JEC Session would comprehensively review bilateral trade, expansion in the scope of PTA, expansion in trade relation in the area of goods and services, diversification of exports and trade routes, Quetta-Taftan rail link completion, early completion of gas import infrastructure and import of 2000 MW power from Iran.
The Minister said that private sectors of the two countries would be instrumental in expansion of trade, investment and economic relations and this meeting is progress in this regard. The Finance minister also invited Iranian investors to take advantage of investment opportunities being offered by Pakistan in the field of infrastructure, ports development, joint shipping line, mining and other sectors of the economy as Pakistan has best investment incentive regime in the region.
Dr Ali Akbar Saleh said that both Pakistan and Iran share long economic border and his country could help Pakistan in energy sector and enhancing co-operation in every sector with Pakistan was the desire of Iran. He said that vast potential of economic co-operation between the two countries could only materialise through joint efforts and creating conducive environment.
Iranian Foreign Minister said that through continued efforts both countries could build better future and bring about prosperity for their peoples. He said that both Iran and Pakistan are major victims of terrorism, which could be addressed by tackling its root causes.