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Koreans invited to invest in coal, wind sectors

windmill_KARACHI: Sindh Board of Investments (SBI) has invited Korean investors to invest in Pakistan especially in coal and wind sectors.

Chairman SBI Muhammad Zubair Motiwala while talking to Pakistani Ambassador for Korea, Shaukat Mukaddam at his office here on Monday, advised him to use the good offices of Embassy of Pakistan in spreading word about available investment opportunities in coal and wind sectors of Sindh.

While discussing about the issue of Lotte PTA Pakistan, chairman SBI said that with the current tariff structure of 3 %, Lotte is making huge profits and any further increase would put burden on textile industry.

As a result, government would be compelled to offset this burden which would not be advisable under current circumstances.

They also discussed about Lotte's interest in cold chain and tourism sector and Motiwala suggested the Ambassador to use his good offices for proper follow-up on the subject.

The Ambassador briefed that signing of sister city memorandum of understanding (MoU) with Korean city Incheon is proposed.

He briefed that the MoU was planned to be signed during planned visit of President of Pakistan to Korea in December 2011. He enquired about the latest update on the matter and proposal about three-member delegation's visit to Korea for the purpose of signing this MoU.

Ambassador briefed about Hanwa Group interest in solar power plant project. He also requested to share details about their interest to SBI so that proper facilitation may be conducted. Chairman SBI ensured full support and to provide all facilitation to them.

Copyright APP (Associated Press of Pakistan), 2012


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