Dialogue is the only mean to resolve all Indo-Pak issues

SAARC Chamber of Commerce and Industry has asserted that dialogue is the only mean to resolve all Indo-Pak issues.

Iftikhar Ali Malik, Vice President SAARC Chamber of Commerce and Industry have that India and Pakistan should take reconciliation process to its logical end for restoring sustainable peace in the sub-continent.

Saying that dialogue is the only mean to solve all vexed problems, Malik reiterated that Indo-Pak relations and to restore lasting peace in the sub-continent.

He hoped that Prime Minister Narendra Modi will revive the peace process with Pakistan “We are quite optimistic that Modi will pick up the threads from Atal Bihari Vajpayee and not only revive dialogue process but also strive for better ties with Pakistan”

He expected that the energy deal signed by the South Asian Association for Regional Cooperation (Saarc) on energy cooperation would be a big boost to the sector.

Iftikhar Malik welcomes the energy agreement which is a forward-looking initiative. “Transactions in power exchanges are done in the most transparent, neutral and efficient manner, deal is a win-win situation for all eight countries” He said.

Pakistan can now eye the massive potential hydroelectric surpluses of Nepal and Bhutan, with India providing the transit corridor. Pakistan can also become a seller in this market once the massive power surpluses of Central Asia begin arriving here under the CASA 1000 project.

Iftikhar Ali Malik stated that “Energy deal aspires to be a regional exchange facilitating transactions across the Saarc countries. Inter connection with Bangladesh and Bhutan have already been established and the same with Nepal it is expected to be in place in a year. We see transactions happening through the exchange.”

He hoped that Pakistan can expect cheaper power from India through exchanges as power is generated in the northwestern neighboring country on costly fuel like oil and Low Sulphur Heavy Stock (LSHS).

According to the Saarc Framework Agreement for Energy Cooperation, the members will for the purpose of electricity trade  enable non-discriminatory access to the their respective transmission grid as per the applicable laws, rules, regulations and  inter-governmental bilateral trade agreements. The member states will facilitate buying and selling entities to engage in cross border electricity trading.