Pakistan and Iran should ink new energy deals : PBIF

KARACHI : Pakistan Businessmen and Intellectuals Forum (PBIF) on Friday said that Pakistan and Iran can become important trading partner through serious efforts and gas import deal which was to bring a revolution in the Pakistan’s energy market is still under sanctions therefore the two countries should ink new energy deals.

President PBIF Mian Zahid Hussain said bilateral trade which was once one billion dollars but now Pakistan’s exports have come down to 128 million dollars despite the agreement among both countries to boost trade to five billion dollars.

He said that sliding exports reflects failure of trade diplomacy on the part of Pakistani authorities despite the fact that Pakistani rice, fruit, vegetable, sports goods and IT services are in great demand in neighboring nation. Government should initiate efforts to boost trade which include opening of banking channels which are currently under sanctions and improved transport infrastructure.

He said that government should also consider setting up coastal refinery and import some quantity of Iranian cement, tiles etc. for bordering areas. Improved trade with Iran can also help bailout textile sector which is paying price for recession in China, cotton collapse and incompetency of semi-educated export managers, he said.

He noted that Tehran’s inclination to take part in economic corridor project will benefit bother countries while Iranian companies will invest heavily in Pakistan.

INP

 

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