Ayub claims country offers $100b investment opportunities in energy sector

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ISLAMABAD: Federal Minister for Energy Omar Ayub Khan has claimed that Pakistan offers around $100 billion investment opportunities in the energy sector, local media reported. 

Elaborating further, he said these opportunities include about $45 billion in power generation, $20 billion in transmission and $15 to 20 billion in distribution.

He made these claims the other day at a ceremony titled ‘energy week’ which was organised by National Electric Power Regulatory Authority (Nepra). Chinese ambassador in Islamabad Yao Jing was also present on the occasion. At the ceremony, Chinese ambassador pledged that work on China-Pakistan Economic Cor­ridor (CPEC) would not be affected by coronavirus outbreak in his country.   

Ayub further claimed that the country has great potential for investment in the energy sector and companies are looking to invest in Pakistan.

READ MORE: Continued myopia on energy policy

He said artificial intelligence and the latest technology are being introduced in the energy sector for optimal exploitation of the sector.

Ayub said, “We have to be up to date being faster, better and cheaper in respect of energy production.” He said the government is focusing on renewable energy and a new power policy is being prepared, adding that the government is aiming to produce 75 percent energy through indigenous resources.   

Meanwhile, chairing a meeting in Islamabad, Prime Minister Imran Khan said provision of electricity to the domestic and industrial consumers at a reasonable rate, energy reforms and checking its losses are the foremost priorities of the government.

He pointed out that the energy sector faces multiple challenges today owing to the power agreements signed by the previous governments which also neglected the timely administrative reforms and losses in the transmission and distribution system.

He said the people are resultantly bearing the whole burden today. Imran Khan said that the government is providing relief to every possible level to the weaker segments of the society and consumers using up to three hundred units. Imran Khan said, “The government is cognizant of the problems faced by the masses and it is our utmost effort to stabilize the power prices and provide every possible relief to the people.”

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