SAARC Signs Energy Deal at Summit: Nepal Foreign Minister

SAARC Signs Energy Deal at Summit: Nepal Foreign Minister

KHATMANDU – SAARC countries signed energy deal in last session of SAARC conference, Nepal’s foreign minister Mahendra Bahadur Pandey confirmed.

South Asian nations signed a deal on Thursday to create a seamless electricity grid, Nepal’s foreign minister Mahendra Bahadur Pandey said.

Signaling an agreement to salvage a regional summit that overshadowed by hostilities between India and Pakistan.

 Pakistan agreed on Thursday to back an energy deal for SAARC nations, barely salvaging the regional summit that has been clouded by frosty ties between India and Pakistan.

Sources say Pakistan Prime Minister Nawaz Sharif was persuaded to change his mind on blocking the agreements at an informal retreat for SAARC leaders outside Kathmandu, where he shook hands and exchanged pleasantries with Prime Minister Narendra Modi

 On November 20, Prime Minister Shri Narendra Modi gave its approval for signing of “SAARC Framework Agreement for Energy Cooperation (Electricity)” among the SAARC Member States during 18th SAARC Summit.

The Agreement will enable greater cooperation in the power sector among SAARC countries. The Agreement is expected to improve the power availability in the entire SAARC region. It would facilitate integrated operation of the regional power grid.

SAARC Summit concludes without the proper meeting of premiers of Pakistan and India.

19th SAARC Summit will held in Pakistan in 2015.

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