Pakistan plans wheat sale to pay for imports from Iran By Shahbaz Rana in The Express Tribune, Jan 15 ISLAMABAD: As international sanctions against Iran’s nuclear programme have disrupted trade financing mechanisms, Pakistan has decided to ship wheat to Tehran for clearing unpaid bills for electricity and iron ore. The federal government has asked state-owned Pakistan Agriculture Storage and Services Corporation (Passco) to supply 100,000 tons of wheat to Iran. The decision was taken last…
Posts published in “Day: January 15, 2013”
Power import: Pakistan, Iran work out a detour for payments By Zafar Bhutta in The Express Tribune, Jan 15 ISLAMABAD: After local banks backed out, Pakistan and Iran have worked out alternative methods of paying bills of import of power to Balochistan through an Iranian company. Pakistan found a loophole to avoid sanctions in the backdrop of the economic blockade imposed by the United States and the European Union on Iran for its alleged nuclear…