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Print Print 2023-04-01

Renewable energy sector: PM urges UAE firm to make investment

  • Assures that the government would extend all possible facilitation in this regard
Published April 1, 2023
Photo: APP
Photo: APP

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday invited the United Arab Emirates-based firm Hayat Bio-Tech to invest in Pakistan’s renewable energy sector and assured that the government would extend all possible facilitation in this regard.

The prime minister, in a meeting with a delegation headed by the Hayat Bio-Tech Chairman and a member of the UAE ruling family Sheikh Ahmed Dalmook al Maktoum, welcomed the keen interest of Hayat Bio-Tech to invest in Pakistan’s pharmaceutical sector, especially in vaccine manufacturing.

Pakistan to welcome investment from UAE: Dar

Welcoming the delegation, PM Shehbaz said the brotherly relations between Pakistan and the UAE were deeply rooted in history. He underlined that Pakistan attached great importance to further expanding brotherly ties with the UAE in diverse, fields including trade and investment.

Sheikh Ahmed Dalmook al Maktoum said they were aware of the huge investment potential of Pakistan and the UAE was looking forward to further expanding its footprint in the energy and health sectors. He expressed a keen desire to further expand the UAE’s investment portfolio in Pakistan.

He also briefed the prime minister about their ongoing 1200 MW power plant project undertaken in collaboration with the Sindh Government which would be a hybrid power plant of solar and wind energy.

Federal Minister for Finance Muhammad Ishaq Dar, Minister for National Health Services Abdul Qadir Patel, PM’s Special Assistant Tariq Fatemi and senior officials of the relevant government departments also attended the meeting.

Comments

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John Apr 01, 2023 06:27am
Who in their right mind would invest with crook & Corrupt Inc?
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Tulukan Mairandi Apr 01, 2023 09:37am
Why would anyone invest when they can't import goods freely, can't repatriate some profits overseas, the country is terrorist-riden with lynchings and bombings daily, food shortage, and on the brink of default! (Default most likely before 15-April). Not to forget why invest in a country with a numbskull as a Finance Minister.
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Muhammad Ali Apr 01, 2023 09:52am
UAE holds world record of procuring cheapest Solar Power Plants at US Cents 1.30 per KWH only due to transparency and best practices adopted. Noon League made contracts during last tenure at US Cents 12 per KWH. Life & business in Pakistan has been made unviable due to world's most expensive PPAs & world record power theft . No solution except supremacy of law which looks impossible.
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Love Your Country Apr 01, 2023 09:52am
@John, footprints of Niazi will continue to haunt us for months.
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Fast track Apr 01, 2023 10:40am
Our country sure is going through tough times, but Hindustanis in comments won't get the last laugh after all.
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Rizwan Apr 01, 2023 10:42am
@Tulukan Mairandi it's for them to decide, you should remain within your aukat and mind your own business Indian.
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Abdullah Apr 01, 2023 11:20am
@John, damage done by niazi is being undone by pdm now.Hope for the best.
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Suriya Hafeez Apr 01, 2023 01:05pm
Mujhy 20.0000 chahye boht pareshan hon koi zarya amdani ni h
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Kamran Hashim Apr 01, 2023 01:18pm
Wondering why would a foreign well reputed company invest in Pakistan? Maybe some connection with PM's son, who happens to be in Solar Business.
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