
According to the agreement, 70% of the funding for the project will be provided by the Iranian Government, whereas 30% will be arranged by the Government of Pakistan.
The spokesman revealed that the project will be completed in three years. As per negotiations between the delegations, the rate of electricity has been finalised at eight cents per unit; whereas in case of a rise in international oil prices a maximum of 11 cents will be charged.
The spokesman further said that the signing of the agreement is the outcome of Iranian President Mahmoud Ahmedinajad`s visit to Pakistan, during which 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.
Published in The Express Tribune, June 1st, 2012.
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