Mitsubishi to expand investment in energy projects in Pakistan


ISLAMABAD:Prime Minister Shahid Khaqan Abbasi says Pakistan has achieved significant economic stability and improved law and order situation has boosted confidence of local and foreign investors to invest in the country.

He was talking to a delegation of Mitsubishi Corporation and Diamond Gas International Pvt Ltd, led by Corporation's Senior Vice President Kimihidi Ando in Islamabad on Monday.

Prime Minister said the government undertook mega energy projects to address energy issues faced by Pakistan.

The Senior Vice President of Mitsubishi Corporation and Diamond Gas International thanked the Prime Minister for Pakistan’s support to Mitsubishi Corporation’s operations in Pakistan and expressed the desire to further expand investment in energy projects.

Mitsubishi is one of the largest trading companies of Japan and is amongst the world’s leading producer in infrastructure development, logistics, energy, metals, machinery, chemicals, and household appliances.

The Corporation is undertaking several joint ventures in Pakistan and also setting up Pakistan’s 3rd LNG Terminal.

A delegation of Shanghai Electric Power led by Chairman Shanghai Electric Power Wang Yundan also called on Prime Minister Shahid Khaqan Abbasi in Islamabad on Monday.

The delegation apprised the Prime Minister of the current status of acquisition process of majority stake in K-Electric and sought government's support in accelerating the process of regulatory approval.

The Prime Minister assured the delegation that Government of Pakistan remains committed to supporting  Shanghai Electric Power with a view to further liberalizing the power generation and distribution sector in the country. APP/AFP