Pakistan has signed an agreement with Iran to import 1,000MW electricity. The agreement was signed between the delegation of Pakistan, headed by NTDCL Managing Director Rasul Khan Mahsud and Deputy Iranian Minister for Energy Muhammad Behzad in Tehran on Thursday.
According to the agreement, 70 percent funding of the project will be provided by Iranian government whereas 30 percent will be arranged by the government of Pakistan, while the project will be completed in three years. As per the negotiations between delegations of both the countries, the rate of electricity was finalised at eight cents per unit whereas in case of rise in the oil prices in international market maximum of 11 cent will be charged.
An official of NTDC said that the singing of 1000MW of electricity import from Iran was the outcome of Iranian President Mahmoud Ahmedinajad's last visit to Pakistan where President Asif Ali Zardari and Prime Minister Yousuf Raza Gilani had shown interest in importing power from Iran to mitigate the prevailing energy crisis in the country. He further said that Federal Minister for Water and Power Syed Naveed Qamar made lot of efforts for dispatching a negotiation team to Iran for purchasing electricity.