Britain expresses interests in make energy sector investment in Pakistan
High Commissioner of United Kingdom in Pakistan, His Excellency Dr. Christian Turner, called on Special Assistant to Prime Minister on Petroleum at the Petroleum Division, Nadeem Babar, this morning.
SAPM shared the structural reforms being carried out in the energy sector in view of the newly promulgated Renewable Energy Policy of Pakistan. He said that the government had set an ambitious target to introduce 20 percent renewable energy by 2025 and 30 percent by the end of 2030.
With an additional share of 30-40 percent hydel power generation, Pakistan will have the cleanest generation mix as a result.
SAPM also informed the envoy that the government is focusing on the assembly and manufacturing of wind turbines and solar panels for renewable energy projects here in Pakistan with the collaboration of some foreign companies and also invited British companies to participate in these projects.
The High Commissioner commended the initiatives taken by the current government to revamp the energy sector and said that the UK looked at the Pakistani energy market as one of great potential.
He shared that British companies are interested in investing in the energy sector of Pakistan, especially in off-grid solutions and distributed generation systems.
He also indicated that approximately $1.5 billion of credit line for export credit facility remains underutilized and urged Pakistani projects to utilize it more.
SAPM appreciated the British companies’ interest to invest in Pakistan and expressed that the government would welcome investment and the presence of British companies in the energy sector of the country.