India-Pak sign MoU for trading electricity

New Delhi, Jan 21: In what could be a positive move for strained relations between

and

, the cabinet of both the countries have decided to sign an

for trading electricity.

According to sources quoted in Daily Times, the federal cabinet the Ministry of Water and Power initiated negotiations with India. In fact, the World Bank has undertaken to finance the feasibility study of the project.

An official release after the federal cabinet meeting state that the reason for India's confidence on Pakistan was the improving state of the Karachi Stock Exchange that has crossed the record level of 27,000 points.

This, in fact, is evidence of business community's confidence in the economic policies of the government. An official from the Pakistani side said,"the Indian prime minister said our country had great potential and if peace and security was restored, we could achieve significant economic progress and development in short time."

Pakistan, in fact, is showing efforts to improve its relations with China, Turkey and the UAE also, signing several memorandums pertaining to nuclear power, banking, finance.

OneIndia News