The government of Pakistan has signed the agreement to import 1000 MW import of electricity from Iran.
According to the agreement the 70 percent funding of the project will be provided by Iranian Govt whereas 30 percent will be arranged by the government of Pakistan.
The agreement was signed between the delegation of Pakistan, headed by Managing Director of the National Transmission and Despatch Company Limited, Mr. Rasul Khan Mahsud, and deputy Iranian Minister for energy, Mr. Muhammad Behzad.
Pakistan's Federal Minister for Water and Power Syed Naveed Qamar the negotiation team to Iran for purchasing electricity.
The spokesman of NTDCL noted that the project will be completed in 3 years.
The rate of electricity was finalized 8 cents per unit whereas in case of rise in the oil prices in international market maximum of 11 cent will be charged.
The signing of 1000 MW of electricity import from Iran is the outcome of President of Iran Mahmoud Ahmedinajad‘s last visit of Pakistan where President Asif Ali Zardari and Prime Minister Yousaf Raza Gilani had shown interest in importing power from Iran to mitigate the prevailing energy crisis in the country.
Earlier, Pakistan signed a $1 billion to construct a dedicated cross-border electricity transmission line with Afghanistan, Tajikistan and Kyrgyzstan.
The construction of the link is essentially aimed at supplying 1,300 megawatts of surplus hydropower available during the summer months from Kyrgyzstan and Tajikistan to Pakistan and Afghanistan. Pakistan will import 1000MW of surplus electricity while Afghanistan will import 300 MW.
"The project is very important for Pakistan and it is in dire need of electricity for the future, and the government is taking all possible measures to complete the project," said Pakistan's Minister for Water and Power, Syed Naveed Qamar, who signed the agreement in behalf of Pakistan.
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