RoK team shows keen interest in thermal power projects

Islamabad: A three-member South Korean delegation accompanied by Mian Shahabullah, Business Development Manager of Siemens Pakistan visited Investment Division & Board of Investment (ID & BoI) on Thursday. The delegation was representing GS Holdings formerly part of LG Corporation. GS Holding specialises in field of Energy and Distribution Business.

The delegation informed that in South Korea (RoK) the demand for power is stagnant and therefore they would like to consider investment options abroad to utilise their valuable resources and expertise. In this regard the RoK delegation showed interest to invest in Thermal power projects. Secretary ID & BoI, Mushtaq Malik chaired the meeting. Other officers were also present on the occasion.

Addressing the participants of the meeting Secretary ID & BOI said despite political uncertainties and security concerns Pakistan has been able to attract a record FDI up to the tune of 5.1 billion dollar in the fiscal year 2006-07. The reasons have been assigned to the improving economic fundamentals of Pakistan, which are heading in the right direction. The Secretary also added that earlier, the Forex Reserves lasted only for few weeks and now Pakistan is in a position having sufficient reserves for six months.

An official from Private Power Infrastructure Board (PPIB) was also invited who gave a presentation highlighting power sector policies to give a better insight to the potential Korean investors.

The representative of PPIB informed that in Pakistan the total installed capacity of power projects is 19,400 Mega watts 61 percent in public sector and 39 percent in Private sector. The presentation also highlighted that Pakistan has untapped potential in power generation from coal.

Moreover, the power transmission system of Pakistan was discussed along with the role of PPIB in terms of further facilitation for the investors and initiatives taken by the government. The representative of PPIB also informed the salient features of Power Policy 2002 to the participants of the meeting.