Pak power sector will get foreign investments

Islamabad: Minister for Water and Power, Raja Pervaiz Ashraf has said that power sector in Pakistan has great potential and the foreign investment in the coal and hydel power generation will help meet the country's future requirements.

He said this while talking to the Italian delegation, headed by Italian Ambassador, Vincenzo Prati who called on him here on Tuesday. Secretary and the Adviser of the Ministry were also present in the meeting. The Minister informed the envoy that the government has liberal policies to attract foreign investment as the procedural requirements have been simplified and now there are no issues of tariff fixations, he added.

He said that Pakistan was facing severe power crisis and the government is taking all short, medium and long term measures to combat the menace of the load shedding and various projects are being offered to the investors, consortium through open bidding. He said that hydel and coal is now the main focus of the government to generate cheaper electricity.

Earlier, the Ambassador said that the Italian companies are interested in the power sector and transfer of technology projects in Pakistan. He said that the Italy is also keen to generate power through solid waste and some proposals will be submitted in this regard.