News ID: 156289
Published: 0657 GMT August 05, 2016

Pakistan: Iran quickest, closest, cheapest energy source

Pakistan: Iran quickest, closest, cheapest energy source

Islamabad will explore every possibility to acquire energy from Iran as it is the quickest, closest and cheapest energy source for Pakistan.

Pakistani Minister for Water and Power Khawaja Muhammad Asif said this in a meeting with Iran's Ambassador to Pakistan Mehdi Honardoust, IRNA reported.

The minister added that Islamabad and Tehran are tied in decades-old religious, social and cultural bonds and that Pakistan greatly values fraternal ties with Iran and considers Iran a close friend and a good neighbor.

"Energy sector in Pakistan is a lucrative sector for investment and Iran should invest in power generation, power infrastructure and power transmission and distribution projects," Asif stressed.

Pakistan is currently importing 74 MW of electricity from Iran.

Tehran had earlier announced its readiness to increase electricity exports to Pakistan respectively from 1000 MW to 3000 MW.

Underlining the significance of China Pakistan Economic Corridor (CPEC) as one of the most important project in the region, Asif noted that all regional countries should plan to make the most from project.

Honardoust added that Iran welcomed the CPEC agreement and believes that it can help develop regional trade and economic activities.

He added that after the lifting of sanctions against Iran, the country found great potentials for investment.

He stressed that investing in neighboring countries is amongst Tehran's top priorities.

"The essence of Pakistan-Iran friendship will be materialized in the form of some projects and Iran Pakistan Gas Pipeline is one of the best projects in providing safe and cheaper energy for Pakistan and creation of jobs in both countries," said the ambassador.

Honardoust and Asif also agreed on further meetings to improve cooperation and coordination in the fields of energy and trade.

   
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