In an unprecedented move, Pakistan makes $60 billion investment offers to World

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In an unprecedented move, Pakistan makes $60 billion investment offers to World

ISLAMABAD - Minister for Power and Petroleum Divisions Omar Ayub Khan has said Pakistan’s Energy Sector offers around 60 billion dollar market in its renewable energy generation, transmission and Distribution system.

Talking to German Ambassador Bernhard Schlangheck in Islamabad on Friday, he said, while on the other hand, petroleum sub-sector offers huge oil and gas exploration opportunities of around 40 new sites for which auction will be conducted next month.

The Minister said the government has formulated a 25 years generation plan alongside transmission plan for commissioning new electricity projects in the country.

Omar Ayub Khan said circular debt has been brought down from 39 billion to ten billion rupees per month.

He said eighty percent feeders across the country are receiving uninterrupted power supply while work on the rest is fast and on track.

The Ambassador was informed that the government is ready to auction around 35 off shore and 10 on shore sites for exploration from next month.

The Ambassador said German Companies are also interested in taking part in the coming bidding process for renewable energy projects.