Prime Minister Shaukat Aziz has said that demand in power sector is growing by 9.5 percent annually and the government is encouraging local and foreign private sector investments to keep a balance between demand and supply.
He was talking to President and Chief Executive Officer, TNB Liberty Power of Malaysia Dato' Sri Che Khalib Bin Mohammad Noh who called on him here on Thursday. Liberty Power Limited, a government of Malaysia owned company established a power plant in Pakistan in 1995.
The Prime Minister said that the surge in power demand is mainly due to better living standards, growing middle class, electrification of rural areas and increase in irrigation and industrial demand, all of which necessitates more electricity generation.
The Prime Minister said that in view of the high growth projections for the future in all sectors of economy, the energy requirements are expected to rise further and the government is making focused and concerted effort to increase capacity in the energy sector to maintain the momentum of growth.
He said the government is encouraging private sector participation in the power sector. To meet its future power needs through the private sector investors, the government announced a policy for power generation projects in 2002, which received encouraging response.
The Prime Minister said consistency and continuity of policies and transparency are the hallmarks of the government and we will continue to apply the policies with equity and justice. The government will continue to extend incentives to the potential investors in a non-discriminatory manner, the Prime Minister added.
The Prime Minister said that Malaysia has made significant contribution in the power sector of Pakistan and Liberty Power is an example of Pakistan-Malaysia co-operation in the power sector. He invited the delegation to participate in the upcoming power projects in Pakistan.
The delegation appreciated the efforts made by Pakistani leadership for promoting investments in Pakistan.
Comments
Comments are closed.