Economy
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Publish date28 Sep 2014 - 12:02
Story Code : 170009

Pakistan owes Iran $100m for electricity

Pakistan’s unpaid electricity bills to Iran has exceeded USD 100 million as Islamabad fails to settle its debt due to the US-led banking restrictions against the Islamic Republic, a report says.
Pakistan owes Iran $100m for electricity


Pakistan has been importing 74 megawatts (MW) of electricity per day from Iran since 2002, to feed the border areas of its Baluchistan Province under a 12-year agreement which expires in December 2014.

A senior Pakistani official said his country is paying 10 cents per unit of electricity under the formula agreed with Iran.

The official, whose name was not revealed, said Islamabad plans to send a delegation to Iran to discuss the possibility of continuation of Iran's electricity exports to Pakistan.

In 2002, Pakistan and Iran reached an agreement to supply electricity from Iran to the areas of Pakistan's Balochistan Province, including Gwadar.

At the beginning of 2012, the US and EU imposed sanctions on Iran’s oil and financial sectors with the goal of preventing other countries from purchasing Iranian oil and conducting transactions with the Central Bank of Iran.

Pakistan is battling chronic electricity shortage, which is inflaming public anger and stifling industrial output, as power outages can last eight to 10 hours a day in cities, with much more frequent cuts in rural areas.
/SR
https://taghribnews.com/vdcgzz9qyak9uz4.5jra.html
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