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ISLAMABAD: Pakistan and Iran have reaffirmed their commitment to significantly strengthen economic cooperation by increasing bilateral trade to $10 billion and accelerating efforts to finalize a long-awaited Free Trade Agreement (FTA). The understanding was reached during the 10th meeting of the Pakistan-Iran Joint Trade Committee, held in Islamabad on Tuesday. The session was jointly chaired by Federal Minister for Commerce Jam Kamal Khan and Iranian Minister for Industry, Mine and Trade Dr. Mohammad Atabak, with senior officials from both countries participating in discussions aimed at expanding trade and investment ties. During the meeting, both sides reviewed the current state of bilateral trade and explored practical measures to unlock its full potential. The two countries agreed that stronger economic integration, improved connectivity, and enhanced cross-border cooperation are essential for achieving the ambitious trade target of $10 billion. Speaking on the occasion, Commerce Minister Jam Kamal said Pakistan and Iran enjoy longstanding historical, cultural, and religious ties, but stressed that these relations should now be translated into a robust economic partnership. He emphasized that expanding trade and investment would bring mutual economic benefits and contribute to regional prosperity. The minister underscored the importance of completing the Pakistan-Iran Free Trade Agreement at the earliest opportunity, describing it as a key step toward facilitating commerce between the neighboring countries. He also called for the removal of bottlenecks affecting border logistics, customs procedures, and cargo movement to ensure smoother and faster trade flows. Jam Kamal noted that bilateral trade could be further enhanced through the development of joint border markets, greater use of electronic data interchange systems, and closer coordination between relevant government agencies. He said modernizing trade infrastructure and simplifying customs procedures would help businesses on both sides benefit from increased commercial activity. The Joint Trade Committee also agreed to formulate a practical roadmap aimed at strengthening economic cooperation across multiple sectors. The roadmap will focus on trade facilitation, infrastructure development, logistics, and investment opportunities while encouraging closer collaboration between the public and private sectors. Iranian Minister Dr. Mohammad Atabak described Pakistan as one of Iran’s key long-term strategic trade partners and expressed confidence that bilateral economic relations could expand considerably in the coming years. He highlighted the importance of increasing regional trade and logistics cooperation, particularly by utilizing Pakistan’s Karachi and Gwadar ports to improve connectivity and facilitate the movement of goods. Dr. Atabak also voiced optimism about the early conclusion of the Pakistan-Iran Free Trade Agreement, saying it would create new opportunities for businesses in both countries. He added that cooperation in electricity trade, transport networks, and regional connectivity projects could open new avenues for economic growth and strengthen commercial links across the region.

BERLIN: Germany’s decision to postpone an interim assessment of its planned lignite phase-out in North Rhine-Westphalia has raised speculation that some coal-fired power plants could remain available for longer than originally scheduled to protect the country’s electricity supply. The German government had been expected to publish an interim report by August 15 examining the consequences of the planned early shutdown of lignite-fired generation in the country’s largest state. However, the economy ministry has delayed the assessment while it awaits the outcome of tenders for new gas-fired power plants being conducted this year. The development has attracted attention because the report is expected to play an important role in determining whether Germany can maintain electricity security while moving ahead with its ambitious coal-exit strategy. Agreement with RWE Under an agreement reached in 2022 between the German government and energy company RWE, lignite-fired electricity generation in North Rhine-Westphalia is scheduled to end by March 2030. The timetable brought forward the shutdown of several lignite plants by eight years compared with Germany’s broader national coal phase-out target. Lignite, commonly known as brown coal, is among the most carbon-intensive fossil fuels and has long been a major target of Germany’s efforts to reduce greenhouse-gas emissions. The government nevertheless retained the possibility of reassessing the situation by 2026. If the review finds that electricity supplies could be threatened, some RWE facilities could potentially remain available until 2033. Delay raises market expectations The postponement of the interim report has prompted speculation in energy markets that Berlin may eventually use the security provisions included in the agreement. Market expectations have centred on around 3.6 gigawatts (GW) of RWE’s lignite-fired capacity potentially being placed into a so-called security standby arrangement. Under such a mechanism, plants could remain available to operate if the electricity system faces supply shortages, potentially extending their role through the end of 2033. The government, however, has not announced any decision to extend the operating life of the plants. RWE Chief Executive Markus Krebber said on Thursday that the company had not been informed of any change to the agreed 2030 shutdown date. He also indicated that the government had not approached RWE about extending the plants’ operations. Gas power becomes increasingly important The delay comes as Germany seeks to strengthen its electricity system with additional gas-fired generation. Germany has approximately 266 GW of installed electricity-generation capacity, but a substantial portion comes from solar and wind power. While renewable energy has expanded rapidly, both technologies are weather-dependent and cannot independently guarantee continuous electricity production around the clock. That has intensified concerns about how the country will maintain reliable power supplies as coal-fired generation is gradually removed from the system. Gas-fired plants are increasingly being considered as a flexible source of electricity that can support the grid when renewable generation is insufficient. The government’s current tenders for new gas capacity are therefore closely linked to the broader debate over how quickly Germany can retire coal-fired plants without creating supply risks. Security of supply remains a key concern Germany’s energy transition has faced a difficult balancing act between climate objectives and electricity reliability. The country wants to expand renewable generation while reducing its reliance on fossil fuels, but the retirement of conventional power plants removes generation capacity that can be dispatched when required. The issue became particularly sensitive following the country’s decision to phase out nuclear power, leaving policymakers with fewer sources of low-carbon, dispatchable electricity. Supporters of a rapid coal exit argue that expanding renewable generation, electricity storage, grid infrastructure and flexible gas capacity can compensate for the closure of coal plants. Critics maintain that Germany could face periods of tight supply unless sufficient backup generation is available. AfD presses for reversal The issue has also become politically contentious. The far-right Alternative for Germany (AfD), currently the country’s largest opposition party and leading nationwide opinion polls, has strongly opposed Germany’s coal and nuclear phase-out policies. The party has called for a reversal of the energy-exit strategy, arguing that the closure of conventional power stations could increase the risk of electricity shortages and potentially lead to blackouts. The government, meanwhile, faces the challenge of ensuring that its climate commitments do not undermine electricity security.