Iran decides to give crude oil to Pak on deferred payment for 3 months

Pakistan Foreign Minister Shah Mehmood Qureshi has said that Iran has agreed to provide his country with crude oil on deferred payment for three months.

Islamabad, Oct 11 : Pakistan Foreign Minister Shah Mehmood Qureshi has said that Iran has agreed to provide his country with crude oil on deferred payment for three months.

He said this while addressing a joint press conference after talks with Iranian FM Manouchehr Mottaki, reported the Daily Times.

Qureshi said that under the Iranian law, crude oil could be imported on a deferred payment for a maximum of three months and Mottaki had said his government would consider extending the period.

The two FMs also agreed to proceed bilaterally with the Iran-Pakistan-India (IPI) gas pipeline project. "Both countries have expressed the desire to finalise this very important project of the pipeline bilaterally, and the third party can join when it is ready," the paper quoted Mottaki as saying.

Qureshi said, "Iran is willing to undertake the IPI project bilaterally. We will also welcome India as it (IPI) will promote regional economic co-operation." Pakistan also welcomed the proposal of purchasing 1,000 Megawatts of electricity from Iran to help overcome electricity shortage.

He added that the two sides had also agreed to increase political consultations to help solve the Afghanistan problem.

ANI