PR No. 177 Pakistan participates in Growing Economies Energy Forum in London Islamabad: June 23, 2016
The Growing Economies Energy Forum (GEEF), hosted open discussions between the governments and private sector from the most anticipated new energy markets in the world including Pakistan, in London from 22-23 June 2016. The Forum explored ways and means to tap into opportunities at an early stage as these countries open up for international investment following political and economic developments, says a Press Release received from London here today.
H.E. Syed Ibne Abbas, Pakistan High Commissioner to the UK delivered the key-note address on “The Role of Public-Private Partnerships in Pakistan’s Power Strategy”. He highlighted the role of private investors in increasing the efficiency of Pakistan’s power industry and importance of indigenous coal and hydro-power development for Pakistan.
The High Commissioner updated the participants that the Government of Pakistan has turned around the economy in the last three years and now we seek to showcase the enormous opportunities for profitable investments that exist in every sector of Pakistan, particularly, energy sector. He also informed the Forum that existing power companies are receiving excellent returns on their investments by virtue of the liberal investment regime of Pakistan. The High Commissioner highlighted the overwhelming hydro-power potential of Pakistan that is around 60,000 MW, most of which is untapped. Similarly, Pakistan’s coal
reserves of 185 billion tons can cumulatively generate 4620 MW electricity, informed the High Commissioner.
Shah Jehan Mirza, Managing Director, Private Power and Infrastructure Board (PPIB), Ministry of Water and Power, Pakistan made a presentation on the policy and legal framework of the energy sector of Pakistan and the immense opportunities available for international investors. Mr Saad Zaman of Abraaj Group informed the participants about their huge investment in Pakistan.
Similarly, Mr Asif Saad, COO of K-Electric briefed the audience on the performance of K-Electric. Mr Liang Xuan, Director Middle East and North Africa, Goldwind International Holdings (HK) Limited apprised the Forum about huge wind energy potential in Pakistan. He said his company was aiming to generate 2000 MW of wind energy in near future in Pakistan.
The Forum provided a valuable opportunity for the Pakistan delegation to exchange ideas on needs and brainstorm strategies vis-a-vis energy sector in Pakistan. The High Commissioner congratulated the EnergyNet Ltd on organizing the Forum.