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EghtesadOnline: Pakistan Minister for Water and Power says his country will explore every possibility to acquire energy from Iran as it is the quickest, closest and cheapest energy source for Pakistan.

Khawaja Muhammad Asif made the remarks during a meeting with Ambassador of Iran to Pakistan Mehdi Honardoost, according to IRNA.

The Pakistani minister added that Islamabad and Tehran are tied in decades-long religious, social and cultural bonds and that Pakistan greatly values its fraternal ties with Iran and considers Iran a close friend and a good neighbor.

“Energy sector in Pakistan is a lucrative sector for investment and Iran should invest in power generation, power infrastructure and power transmission and distribution projects”, Asif stressed.

Pakistan is right now importing 74 MW of electricity from Iran. 

Tehran has earlier announced its readiness to increase electricity exports to Pakistan respectively from 1000 to 3000 MW. 

Asif emphasized on the importance of China Pakistan Economic Corridor (CPEC) as one of the most important project in the region. He stressed that all regional countries should make their planning to get maximum benefit from the project.

Iran welcomed the CPEC agreement and believes that it can help develop regional trade and economic activities, said the Iranian ambassador, in return.

Honardoost added that after lifting of foreign sanctions against Iran, the country found great potentials for investment.

He stressed that investing in neighboring countries is amongst Tehran's top priorities.

“The essence of Pak-Iran friendship will be materialized in the form of some projects and Iran Pakistan Gas Pipeline is one of the best projects in providing safe and cheaper energy for Pakistan and creation of jobs in both countries”, said the ambassador.

Honardoost and Asif also agreed to hold further meetings to improve cooperation and coordination in the fields of energy and trade.

Iranian energy Khawaja Muhammad Asif