British Cos keen to invest in Pakistan’s energy sector

The British companies have expressed their intent to invest in Pakistan’s energy sector especially in the off grids solutions and distributed generation system.

This was shared by H.E Dr. Christian Turner, High Commissioner of United Kingdom in Pakistan during his meeting with Nadeem Babar, Special Assistant to Prime Minister on Petroleum at the Petroleum Division on Thursday.

The envoy also indicated that approximately $1.5 billion of credit line for export credit facility remains largely unused and urged Pakistani projects to utilize it more.

Meanwhile, the SAPM shared the structural reforms being carried out in the energy sector in view of newly promulgated Renewable Energy Policy of Pakistan. He said that the government had set targets to introduce 20 percent renewable energy by 2025, and 30 percent by end of 2030.

With an additional share of 30-40 percent hydel power generation, Pakistan will have the cleanest generation mix as a result, expressed SAPM.

Babar also apprised the envoy that the government is focusing on assembly and manufacturing of wind turbines and solar panels for renewable energy projects here in Pakistan with collaboration of some foreign companies and also invited British companies to participate in these projects.

The SAPM hailed the British companies' interest to invest in Pakistan and offered to facilitates them I this regard.