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'Govt to give huge incentives for energy sector investors'

19 July, 2012

ISLAMABAD: There is great investment opportunity for local as well as foreign investors to invest in the energy sector, especially in renewable energy components, said President Asif Ali Zardari.

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ISLAMABAD: There is great investment opportunity for local as well as foreign investors to invest in the energy sector, especially in renewable energy components, said President Asif Ali Zardari.

During a meeting with the Chinese delegation of China Electric Equipment Group (CEEG) headed by its president Jia Yangang, Zardari said, “Government has committed to provide all possible facilitation to the local and foreign investors with great incentives.”

The delegation of CEEG comprised of Awan Arshad, Ms Violet Rong, Sun Yumingm, Steven Chen, Lu Tinghua and others.

Highlighting Pak-China historical friendship Zardari said Pakistan welcomes Chinese investors, in particular, to invest in the energy sector and help the government meeting its energy requirements.

He said the prevailing energy shortage was a great challenge for the government and was hampering our growth and economy.

However, he emphasised Pakistan possesses huge resources of different kinds of energy including wind and solar that could be harnessed.

He said having abundant sunshine and sufficient wind speed offered great opportunity for harnessing this clean and efficient source of energy.

Pakistan greatly appreciated Chinese experience of growth and looks towards Chinese expertise in overcoming the challenges facing its economy. While appreciating Chinese assistance and interest of the Chinese businessmen in various projects in the country, he reiterated Chinese investors would be provided all facilitation in their business ventures by the government of Pakistan.

He called upon the company to assist in solar water pumping system, especially in the rural areas, and in stand-alone small house solar system for rural electrification. He said the existing water pumps could be converted from electricity to the solar energy.

He asked CEEG to give advice on captive power plants and invited it to establish offices in Pakistan for which the government would extend necessary support. He advised the Sindh government, in particular should consider exploiting solar energy in meeting the energy requirements of the far-flung areas.

President said the availability of loan facility from the Chinese banks would further facilitate company's business in Pakistan.

Jia Yangang briefed the President about his company and their future investment plans in Pakistan in the energy sector on public private partnership basis.

He said CEEG wished to cooperate in the fields of technology, manufacturing, training and research in solar energy and its applications. He assured his Company's continuous support to the country in the energy sector.

End.


 
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