Japan intends to invest in various water and power sector projects and examining feasibility to priorities the specific projects for investment. The ambassador of Japan to Pakistan, Hiroshi Oe said this while meeting with Federal Minister for Water and Power, Syed Naveed Qamar here on Thursday.
In the meeting, bilateral relation between the two countries and investment opportunities in the power sector in Pakistan were discussed, said a press release. The ambassador assured full support for the development agenda of the Pakistan government particularly in the power sector.
Condoling the victims of earthquake and Tsunami the minister said that it was difficult time for Japan and one should must appreciate that it boldly faced the situation. The minister said Pakistan is also facing various challenges like in power sector. However, due to the number of measures taken by the government, the gap between demand and supply has reduced and the duration of loadshedding has come down even there was zero loadshedding in last two to three days.
Naveed Qamar briefed the envoy on proposed measures in the power sector and said that an upfront tariff would be announced soon for wind power projects to facilitate the investors as there is big potential in the sector. Private sector would be offered operation and maintenance (O&M) of the old public sector power projects to improve the efficiency and to increase their capacity according to the demand. This will help to generate additional 1000MW to 1500MW, in order to the conserve energy existing tubewells are being replaced with new ones to save good number of megawatts, he added.
USAID has introduced a pilot project in Multan region while ADB has also assured for this project across the country. The government will provide incentives for this public-private partnership project, he maintained. LNG is being introduced for fuel and power generation and subsidies would be minimised, recoveries will be improved and energy mix would be changed.
He said that during last three years various projects were commissioned and some are in the pipeline and coal fields are being developed. The minister said that Pakistan is trying its level best to come out from the difficulties and all the planned projects are being offered to investors and Japanese are welcome to take part in these projects.
He asked the ambassador, the Ministry of Water and Power and Japanese can sit together to identify the projects for investment. The envoy thanked the minister to help Japan by the government and people of Pakistan in the recent earthquake and Tsunami which play havoc in Japan.
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