Iran, Pakistan to open border market, launch power transmission line

Top officials of Iran and Pakistan are set to inaugurate a joint border market and launch a power transmission line amid efforts to enhance bilateral cooperation.

In a Wednesday statement, Pakistan’s Ministry of Foreign Affairs announced that Prime Minister Muhammad Shehbaz Sharif and Iranian President Ebrahim Raeisi will inaugurate Mand-Pishin Border Sustenance Marketplace and Polan-Gabd Electricity Transmission Line on Thursday.

Mand-Pishin Border is one of the six markets to be constructed along the Pakistan-Iran common border and aims to “provide a thriving platform for increasing cross-border trade, fostering economic growth and opening up new avenues of opportunity for local businesses,” read the statement.

Back on May 2, the head of border markets of Sistan and Baluchestan Province noted that booths of the market will be exclusively for local residents. Mobin Ali Mir stressed that such markets can play a significant role in improving the economic condition of local people.

100-MW power transmission line

Another project which is set to be officially launched on Thursday is Polan-Gabd Electricity Transmission Line, which will export 100 MW of electricity to neighboring Pakistan.

The line “plays a pivotal role in meeting the energy needs of the region, including households and businesses,” read the statement.

Pakistan, Iran sign deal to raise power exchange to 200 MW

Iran and Pakistan have signed a new electricity exchange agreement under which the volume of power traded between the two neighbors will rise to 200 megawatts.

It also noted that the projects show the “strong commitment of Pakistan and Iran to uplift welfare of residents of the neighboring provinces,” while also serving as a “significant stride forward in the bilateral relationship between the two countries.”

Polan-Gabd is an 80-km-long transmission line, 50 km of which is on Iranian soil. It will double the capacity of energy exchange between the two countries.

The agreement for the increased power exchange was signed back on March 12 in Tehran between Pakistani Energy Minister Khurram Dastgir Khan and his Iranian counterpart Ali Akbar Mehrabian.

Mehrabian said the design and execution of the project were carried out in less than nine months, which marks a "unique record." Test runs on the line for interconnecting the two countries’ grids have been completed, he added.  

Pakistan plans to buy oil from Iran

Pakistani lawmakers call on the government to use all its resources to buy oil from Iran.

Tehran and Islamabad have been working to enhance economic ties in recent years. Iran's non-oil export to Pakistan increased by 18 percent in the previous Iranian calendar year (which ended on March 20), according to the spokesperson of the Iranian House of Industry, Mining, and Trade's Trade Development Committee.

Pakistan was Iran's fifth largest export market in the previous calendar year, importing non-oil products worth $1.488 billion from Iran, Rouhollah Latifi said in early May.

He also said that Iran imported non-oil goods worth $842 million from Pakistan last year, up 170 percent from the previous year.

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