Pakistan offers $80 billion investment in energy sector

Pakistan offers $80 billion investment in energy sector
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ISLAMABAD - Minister for Power Omar Ayub Khan says the government is taking various measures to provide affordable and reliable energy to consumers.

Addressing a seminar in Islamabad on Monday, he said efforts are underway to reverse the energy mix, enhance renewable energy and improve electricity transmission system.

The Minister said the government has set the target of reversing the current energy mix of 60 percent imported fuel and 40 percent indigenous resources to 70 percent indigenous resources and 30 percent imported fuel by 2030.

He said the government plans to increase share of renewable energy to 20 percent by 2025.

Omar Ayub Khan said electricity transmission system is being upgraded and the government has set the target of transmitting 26,000 megawatts of electricity by next summer.

He said nuclear energy resources are also being exploited.

He said a mechanism is being developed for early redress of consumer complaints.

The Minister said energy sector has a vast potential of 80 billion dollars investment, and multinational companies are showing interest to invest in it.

He emphasized on adopting latest technology in energy sector to ensure fast-track development.

Omar Ayub Khan said the PTI government is working for wellbeing of people by ensuring meritocracy and transparency.

Omer Ayub said the production cost would be overcome using modern technology. He said there are huge opportunities of investment in solar energy sector in the country and Saudi Arabia will invest in solar energy project of 500 megawatt in Balochistan.

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