Growing electricity needs opening up more opportunities for FDI: Omar

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From Business Correspondent

ISLAMABAD: Minister for Energy, Omar Ayub Khan yesterday said Pakistan’s GDP was more than 300 billion dollars as demand for more electricity consumption was rapidly growing, and opening up more opportunities for Foreign Direct Investment (FDI) in the country.

He stressed that Chinese leadership at highest level remained committed to further invest in Pakistan’s energy sector for its consolidation and self-sufficiency.

Talking to Vice Chairman of National Development and Reform Commission (NDRC) Lian Weiliang during a meeting, Omar Ayub thanked for inviting Pakistan’s delegation to attend Belt and Road Energy Ministerial Conference held in Suzhou.

According to a message received here, he hoped that the Conference under China’s visionary leadership would play a critical role in rebuilding and diversifying regional energy landscape.

The Minister also took opportunity to brief his interlocutor about energy priorities of the present government. He underlined that just, the up-gradation of Pakistan’s distribution system required an investment worth over five billion US dollars while the upgradation of transmission system would require an even larger size of investment. The Minister also extended Lian Weiliang an invitation to visit Pakistan.

Pakistan has great potential to grow and its energy market will witness major expansion in coming years. China would continue to complement Pakistan’s efforts in reforming and expanding its energy sector, Lian Weiliang underscored.

During the meeting Lian, a Minister-level official of People’s Republic of China, recognizing the imperatives of further reinforcing ties between two iron brothers, maintained that both countries could regularly review progress of various energy projects and jointly formulate strategies and plans to oversee their speedy and timely execution.

Lian thanked the Minister for extending the invitation and hoped that under his leadership Pakistan-China energy ties would further deepen and solidify.

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