The decision was taken at an Economic Coordination Committee chaired by Finance Minister Ishaq Dar, Reuters reported.
Energy-starved Pakistan already has contracts to purchase electricity from Tehran for its border regions, especially for projects on Gwadar port.
The finance ministry did not give details of the quantity or terms and conditions of the new purchase.
Pakistan's new plan to strengthen energy cooperation with Iran comes a few days after the Iranian foreign minister Hossein Amir-Abdollahian's official visit to Islamabad and Karachi.
SKH/PR