Pakistan to import coal from Afghanistan in rupees
Pakistan’s Prime Minister Shehbaz Sharif has approved the import of coal from Afghanistan in rupees instead of US dollars, saying the move will help the country save precious foreign exchange.
Sharif on Monday chaired a meeting on improving the transportation system of coal imported from Afghanistan in the country, the Express Tribune reported.
He expressed deep concern over the rising price of coal on the international market, saying it was the main reason for generating expensive electricity from coal-fired power plants in the country.
“The coal imported from Afghanistan in rupee terms will not only generate cheap electricity but also help save the country’s precious foreign exchange,” Sharif said.
The prime minister was informed that import of coal from Afghanistan would save more than $2.2 billion annually.
Sharif also directed the Ministry of Railways to take all necessary steps to ensure prompt delivery of coal imported from Afghanistan to power plants.
The PM ordered the formation of a committee of all officials concerned headed by the defence minister to expedite the import process.
Esmatullah Burhan, a spokesman for Afghanistan’s Ministry of Mines and Petroleum, told a press conference on Tuesday that Pakistan was a good market for coal exports, which should not be lost.
He said that revenue from coal exports under IEA rule were far higher than under the last government.
Ahmad Wali Haqmal, finance ministry spokesman, said tax on coal exports was increased to 30% from 20%.
The official said that until now coal was being sold at $90 per ton, but from now on it will be sold at $200 per ton.The post Pakistan to import coal from Afghanistan in rupees first appeared on Ariana News.
Source: Ariana News