Iran agrees to 'barter' with Pakistan for wheat

Discussion in 'Pakistan' started by farhan_9909, Jul 16, 2013.

  1. farhan_9909

    farhan_9909 Tihar Jail Banned

    Aug 30, 2012
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    In return for debts owed by Pakistan for the supply of electricity from Iran, Iran has agreed to barter for wheat from Pakistan which is worth $9 million.
    Corroborating reports from albawaba and Azer News outline how Pakistan owes the Islamic Republic of Iran an estimated $51 million for electricity. Much of this electricity Iran is exporting to Pakistan goes to Baluchistan.
    The going rate of Iranian electricity being exported to Pakistan is roughly eight to nine cents per unit.
    U.S. economic sanctions against Iran are serving to hinder any attempts Pakistan may have made to pay back its debt to Iran.
    Iran's Deputy Energy Minister Mohammad Behzad has outlined this policy when he explained that, "We just agreed on barter trade of goods in relation to electricity supplies. The Iranian Ministry of Industry, Mines and Trade made a decision in such topics as type of goods."
    Therefore Pakistan will clear some of the debt it owes to Iran by providing Iran with rice and wheat instead of hard cash.
    The Iranian Plant Protection Organization has recently announced that it does not approve the quality of the Pakistani wheat.
    Iran's energy company, TAVANIR, has previously warned that it will cut the electricity supply by August if Pakistan doesn't pay for the electricity it has been using.

    Iran agrees to 'barter' with Pakistan for wheat

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