Pakistan Takes Power Play with Iran to Tackle Energy Crisis, Boost Economic Growth
Pakistan has announced plans to buy more electricity from Iran to address its energy crisis, aiming to strengthen energy cooperation and boost Chinese-funded projects at the port of Gwadar.
In a recent development, Pakistan has announced plans to purchase additional electricity from its neighbor Iran to address the country's energy crisis. The decision was made at an Economic Coordination Committee meeting chaired by Finance Minister Ishaq Dar. Pakistan already has existing contracts with Tehran to procure electricity for its border regions, particularly for construction projects at the port of Gwadar.
The finance ministry has not disclosed the specifics of the new purchase, including the quantity or terms and conditions. This move comes following a visit by Iran's foreign minister, Hossein Amir-Abdollahian, to Islamabad and Karachi. Pakistan, which has long been grappling with an acute energy shortage, aims to strengthen energy cooperation with Iran to meet its growing electricity demands.
The announcement of this new agreement highlights Pakistan's commitment to explore various avenues to overcome its energy crisis. Furthermore, this decision is expected to provide a much-needed boost to the Chinese-funded construction projects at the strategically important port of Gwadar, which holds immense significance for Pakistan's economic development and regional connectivity.
The purchase of electricity from Iran not only marks a crucial step towards alleviating Pakistan's energy woes but also showcases the country's commitment to fostering regional cooperation and enhancing ties with its neighbors. With the government taking proactive measures to address the energy crisis, Pakistan is poised to achieve greater energy security in the near future.