Top French companies want to invest in Pakistan, reveals Ambassador

Top French companies want to invest in Pakistan, reveals Ambassador

*ISLAMABAD - Top French Companies have expressed interest in making investment in Pakistan Power Sector.*

*Ambassador of France to Pakistan Marc Baret has revealed.*

*He called on Federal Minister for Energy (Power Division) Omar Ayub Khan here on Monday and informed him that two leading French companies wanted to invest in the power sector of Pakistan.*

Omar Ayub said that Pakistan and France shared cordial relations and emphasised the need to extend those ties from trade and economic domain to cooperation in the field of energy. He said that Pakistan highly valued its multi-faceted relations with France.

The minister said that Pakistan was keen to forge closer relations with France in areas of mutual benefit. He said that Power Division had chalked out a plan to control electricity theft and increasing capacity of generation and transmission of electricity.

“Working is under way on a mechanism to deal with power theft. Power Division engaging with the provinces on creation of special task forces with the support of provincial governments, local authorities and law enforcement agencies for crackdown against electricity theft” he added.

The energy minister further elaborated that ABC cable which had a capacity to stop any kind of electricity theft would be installed initially in the premises of IESCO, PESCO and LESCO and the cost for this project had been estimated 900 million dollars. The Asian Development Bank will finance this project, he added.