Islamabad, July 18, 2012 (PPI-OT): President Asif Ali Zardari has said that where the energy shortage in the country was a challenge, it offered great investment opportunities to the local as well as foreign investors to invest in the sector, especially in renewable energy components, for the mutual benefit.
During meeting with a Chinese delegation of China Electric Equipment Group (CEEG) headed by its President Mr. Jia Yangang, President Zardari said that the Government was committed to provide all possible facilitation to the investors and was offering great incentives to the foreign investors.
The delegation of CEEG comprised of Mr. Awan Arshad, Ms. Violet Rong, Mr. Sun Yumingm Mr. Steven Chen, Mr. Lu Tinghua, and others.
Ch. Ahmed Mukhtar, Federal Minister for Water and Power, Senator Dr. Asim Hussain, Advisor to PM for Petroleum and Natural Resources, Maj ® Haroon Rashid, Secretary to the President, Mr. Zafar Mehmood, Secretary Water and Power, Mr. Arif Alauddin, CEO AEDB and Mr. Naveed Hassan Bukhari, Director Solar AEDB among others were also present during the meeting.
The President while highlighting Pak-China historical friendship said that Pakistan welcomes Chinese investors, in particular, to invest in the energy sector and help the Government meeting its energy requirements.
The President said that the prevailing energy shortage was a great challenge for the Government and was hampering our growth and economy. However, the President emphasized that Pakistan possesses huge resources of different kinds of energy including wind and solar that could be harnessed. The President said that having abundant sunshine and sufficient wind speed offered great opportunity for harnessing this clean and efficient source of energy.
The President said that 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, the President reiterated that Chinese investors would be provided all facilitation in their business ventures by the Government of Pakistan.
President China Electric Equipment Group Mr. 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 that CEEG also wished to cooperate in the fields of technology, manufacturing, training and research in solar energy and its applications.
Welcoming CEEG’s keenness to start their business ventures in Pakistan in the energy sector, the President said that the company had a great opportunity to invest in Solar and other projects. He said that the company may also provide special service that enabled off grid customers to “pay as they save”. He also asked CEEG to give advice on captive power plants and invited it to establish offices in Pakistan for which the Government will extend necessary support, he said.
The President called upon that 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 that the existing water pumps need to be converted from electricity to the solar energy.
The President advised that the Sindh government, in particular, should consider exploiting solar energy in meeting the energy requirements of the far flung areas.
The President also said the availability of loan facility from the Chinese banks would further facilitate company’s business in Pakistan.
President CEEG thanked the President for meeting and the assurance of all possible support by the Government to his company in its business ventures in Pakistan. He assured his Company’s continuous support to the country in the energy sector.
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