*ISLAMABAD: *Power Division Minister Omar Ayub Khan said on Wednesday hasoffered $40 billion investment opportunities in Pakistan energy sector.
Addressing a press conference along with Prime Minister’s Special Assistanton Petroleum Nadeem Babar, the minister said that around 8,000 megawattsclean, environment-friendly and cheap renewable energy (RE) would be addedto the system.
He added that the share of the RE would be increased to 20,000MW by 2030under the new Alternative Renewable Energy Policy 2019 approved by thefederal cabinet. “The share of clean and green energy will be enhanced to60-65% of the total energy mix by 2030,” he told reporters.
“The policy is aimed at substantively reducing electricity prices in thefuture,” the minister said. “The government initiatives will also boostindustrial activities in return will enhance exports and create employmentopportunities in the country,” he added.
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The sector offers $40 billion investment opportunities whereas $700 millioninvestment was already pouring in in 12 wind energy projects, he said,adding that solar panels and wind turbines would now be manufactured in thecountry, for which talks were under way with foreign companies.
The minister blamed the previous Pakistan Muslim League Nawaz (PML-N)government for “killing all RE projects” in order to set up expensive LNGprojects. Asked about the issue with Karkey, he said the disputed wasresolved with the help of Turkish President Recep Tayyip Erdogan.
