Pak: UAE firm keen to set up power plant

Karachi: Abu Dhabi National Energy Company showed its keenness to invest in Pakistan's energy sector, particularly in setting up of a coal-based power plant in the country, which has plenty of untapped coal reservoirs.

The interest was shown by Vice President of the company Abdullah Khunji, who called on President Asif Ali Zardari here at the Emirates Palace.

Abdullah Khunji during his meeting with the President had an in-depth discussion on the prospects and opportunities of investment in Pakistan with focus on energy sector. President Zardari welcomed the interest shown by the company for investment in Pakistan's energy sector and said it will help boost the already existing co-operation, collaboration and joint ventures between the two counties in this vital field.

He assured the Vice President of Abu Dhabi National Energy Company that the government will extend all possible assistance to the company in their endeavours to invest in Pakistan's energy sector.

Abdullah Khunji later told Pakistani media that energy deficient Pakistan is a best market for investment in this sector and the company will soon enter the Pakistani market by launching and implementing its intended projects.

Foreign Minister Shah Mahmood Qureshi was also present in the meeting. Chairman Emirates Investment Group Tariq Al Qasimi also called on President Zardari here at the Emirates Palace and discussed the global as well as the regional economic situation, with focus on the opportunities of potential of investment in Pakistan's financial sector.

The President told the company's Chairman that the government welcomes and encourages the foreign investment in diverse fields of economy including energy, agriculture, construction, infrastructure development and banking and financial services sectors.

Tariq Al Qasimi after the meeting told Pakistani media that their company already has its presence in Pakistan with investment in various projects and was exploring new avenues of investment in agriculture and banking sectors, as these sectors have vast potential of growth and development.

He said Pakistan and UAE maintain excellent business relations and the official visit of President Zardari and his interaction with various entrepreneurs will help further strengthen these ties.

Tariq Al Qasimi said the President has encouraged their company to expand its business and investment base in Pakistan for the benefit of two countries. Minister for Foreign Affairs Makhdoom Shah Mahmood Qureshi, Advisor on Finance and Economic Affairs Shaukat Tarin, Pakistan's Ambassador to UAE Khurshid Ahmad Junejo and Ambassador at large Javed Malik were present in the meeting.