PESHAWAR, November 28: The South Asian Association for Regional Cooperation (SAARC) countries have signed an accord for cooperation in energy sector.

According to media reports, SAARC leaders signed the agreement for establishment of a combined grid yesterday at the Nepalese capital, Kathmandu. Under this agreement, the eight SAARC member countries will work on joint production and distribution of electricity.

Analysts are of the view that the SAARC countries including Pakistan, India, Afghanistan, Bangladesh, Nepal, Bhutan, Sri Lanka and Maldives are facing energy shortage and implementation of this accord will address this problem to a great extent.

During the SAARC Summit, Prime Minister Mr. Nawaz Sharif also had an informal meeting with his Indian counterpart Mr. Narendra Modi.

However, the Indian foreign ministry has ruled out the notion of any formal meeting between the two leaders and explained that Mr. Modi just inquired the wellbeing of Mr. Sharif at the informal meeting.

Nepal’s Prime Minister Mr. Sushil Koirala said the next SAARC Summit will be held in Islamabad.

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