Daily Times

ISLAMABAD: Iranian President Hassan Rouhani on Saturday assured energy-starved Pakistan that his country was ready to take responsibility of providing Islamabad complete ‘energy security’.

“Provision of energy security to Pakistan is Iran’s responsibility,” the visiting dignitary told Pakistan-Iran Joint Business Forum here on the last day of his two-day visit.

“In the presence of prime minister of Pakistan, businessmen, entrepreneurs and delegates, I announce that Iran is responsible for provision of energy security to Pakistan. We have fulfilled our responsibility as per our commitments in the fields of electricity and gas and we will fulfill those in the future as well,” he said.

Iran currently exports around 100 megawatts of electricity to bordering areas of Pakistan. Negotiations on a deal to increase the electricity supply to 1,000 MW are in the final stages.

Rouhani said the proposed gas pipeline from Iran, through Pakistan to India has reached the border with Pakistan. He said Iran was ready to expand and develop this cooperation.

While Iran has invested over $2 billion in the project, Pakistan has yet to finish construction on its half of the pipeline.

“Pakistani people should stay assured that Tehran is a strategic partner of Islamabad and will always do its best to satisfy the needs of Pakistan in the fields of oil and gas,” he said.

The Iranian president also reiterated a bilateral commitment to take trade volume between two countries to $5 billion in next five years. He said Iran was an emerging economy in the post-sanctions era and the businessmen, entrepreneurs and the state sector should cooperate in order to realize the immense potential and harness the bilateral cooperation in the fields of trade, investment, culture and science and technology. He said the bilateral trade volume was far below and needed to be raised up to the mark.

Speaking to the forum, Prime Minister Nawaz Sharif also spoke about increasing annual trade volumes between the two countries to $5 billion by 2021. “In the five years strategic action plan signed between two countries, we have aimed at boosting our bilateral trade to the level of $5 billion by 2021,” Nawaz said. “More land routes for trade on our border, trade exhibitions, industrial and agricultural cooperation and mutual recognition of standards will boost trade.”

Lauding the struggle of Pakistan Army for peace in the country and the achievements it had made, Iranian president suggested that the two countries should cooperate with each other for further security of borders and the region. “We consider the influence and power of Pakistan Army as our own power and influence,” he said.