ISLAMABAD: President Asif Ali Zardari said Wednesday that the energy sector offered great investment opportunities for local and foreign entrepreneurs.
At a meeting with a delegation of China Electric Equipment Group (CEEG) headed by its President Jia Yangang, President Zardari said there was great scope to invest in the sector, especially in renewable energy.
He said the Government was committed to facilitate the investors and offering great incentives.
The President said Pakistan welcomes Chinese investors, to invest in the energy sector and help the government meet its energy requirements.
He termed the prevailing energy shortage a great challenge for the government and said it was hampering growth and economy.
The President emphasized that Pakistan possesses huge resources; including wind and solar that could be harnessed. He said abundant sunshine and sufficient wind speed offered great opportunity for harnessing this clean and efficient source of energy.
The President said that Pakistan greatly appreciated Chinese experience of growth and looks towards Chinese expertise in overcoming the challenges facing its economy.
He appreciated Chinese assistance and their interest in various projects in the country and the President reiterated that Chinese investors would be provided all facilities in their ventures by the government of Pakistan.
The delegation of CEEG comprised of Awan Arshad, Ms. Violet Rong, Sun Yumingm, Steven Chen, Lu Tinghua and others.
Ch. Ahmed Mukhtar, Minister for Water and Power, Senator Dr. Asim Hussain, Advisor to PM on Petroleum and Natural Resources, Maj (R) Haroon Rashid, Secretary to the President, Zafar Mehmood, Secretary Water & Power, Arif Alauddin, CEO AEDB and Naveed Hassan Bukhari, Director Solar AEDB among others were also present during the meeting.
President China Electric Equipment Group Jia Yangang briefed the President about his company and their future investment plans in Pakistan in the energy sector on public private partnership basis.
He said that CEEG also wished to cooperate in the fields of technology, manufacturing, training and research in solar energy and its applications.
Welcoming CEEG's keenness to start their business ventures in Pakistan in the energy sector, the President said that the company had a great opportunity to invest in Solar and other projects.
He said that the company may also provide special service that enabled off grid customers to "pay as they save". He also asked CEEG to give advice on captive power plants and invited it to establish offices in Pakistan for which the Government will extend necessary support, he said.
The President called upon that the company to assist in solar water pumping system, especially in the rural areas, and in stand-alone small house solar system for rural electrification.
He said that the existing water pumps need to be converted from electricity to the solar energy.
The President advised that the Sindh government, in particular, should consider exploiting solar energy in meeting the energy requirements of the far flung areas.
The President also said the availability of loan facility from the Chinese banks would further facilitate company's business in Pakistan.
The President CEEG assured of all possible support by the government to his company in its business ventures in Pakistan. He assured his Company's support to the country in the energy sector.
Copyright APP (Associated Press of Pakistan), 2012
Comments
Comments are closed.