Cabinet body seeks proposals on electricity import from Iran: Malik

ISLAMABAD: The Cabinet Committee on China Pakistan Economic Corridor (CPEC) Friday assigned the ministry concerned to submit a detailed proposal regarding the import of electricity from Iran to specifically meet the future needs of Gwadar.

Briefing the media about the proceedings of the cabinet committee meeting, PM's aide Musadik Malik said the participants held a detailed discussion on CPEC projects, including power and water supply, construction of Gwadar airport, free port, extension of the port, and development of the Special Economic Zones (SEZs).

He said the committee had asked the ministry concerned to furnish proposals in coming weeks for import of the electricity from Iran.

Malik said though Pakistan had already been importing a minor chunk of electricity from Iran, but on barter basis, to avoid violation of the international sanctions imposed on Iran.

To a question, he said Pakistan was ready to complete the gas pipeline project provided the sanctions on Iran were lifted.

He said the government had tackled the power crisis efficiently and the country would become power surplus in a short time.

The PM's aide said China had provided a grant worth Rs22.25 billion for construction of Gwadar International Airport and the preliminary design of the project had been completed.

"The work on the project would start by mid next year and would take another three years for completion."

Malik said the government would also hold first global expo in Gwadar to promote investment in the country.

He said the government was also strategising to end dependence on rainwater in Gwadar and had sought proposals in this regard to execute long-term projects to cope with water needs.

He told media that nine SEZs would be established representing all federating units including Gilgit-Baltistan and AJK.

The PM's aide further said the government had announced five-year exemption from custom duty for the parties developing the SEZs and ten year exemption for the industries to operate there provided they start functioning before June 2020.

He said the government had installed gasification plant of 600 million cubic feet within 11 months and second one would be inaugurated within a couple of days.

To a question, Malik said the finance minister was under treatment abroad and the prime minister was looking after the affairs of his ministry.