Switzerland intends to invest 100 million dollar to set up a maize-based ethanol plant near Port Qasim in Sindh for ethanol export to international destinations.
This would ensure adequate availability of fuel grade ethanol locally, beside, exploring various other options for investment in the oil and gas sector in Pakistan, Managing Director, Fair Energy Switzerland, Gilbert Brunner informed to Acting President and Chairman Senate Mohammedmian Soomro. Gilbert Brunner is currently leading a delegation of Swiss investors to Pakistan and called on Muhammadmian Soomro here on Saturday.
The Acting President and Chairman Senate assured the Swiss delegation of all out support in setting up the prospective plant and asked its members to co-ordinate with the Board of Investment and Planning Commission to work out the details.
He said the idea of blended fuel is an innovative one and certainly worth a try. Soomro said the climate of investment is very conducive in the country because of far-reaching reforms introduced by the government in every sector of the economy.
This is high time to take advantage of the investor-friendly policies being pursued by the country and investors should invest in areas offering lucrative returns, he added.
Muhammadmian Soomro said numerous investment opportunities have been generated in the country in the wake of expanding middle class with growing purchasing power. The need for goods and services is growing in the same proportion. He said transparency and efficiency are the new buzzwords as the whole environment has been transformed. He cited the example of reputed foreign, companies, which are doing a roaring business in the country.
Similarly, he said, construction industry is also fast picking-up, so is the hotel and housing in addition to energy, oil and gas. All of these areas hold great promise and potential for profitable investment, he observed. "The demand for energy is increasing to sustain the growth momentum in the economy and it is imperative to look for alternate sources of energy in the backdrop of high petroleum prices," said the Acting President.
The leader of the Swiss delegation commended the performance of the Pakistan's economy which is currently maintaining 7.5 percent GDP growth rate and termed it as a marvellous achievement especially in the backdrop of October 8 devastating earthquake and exorbitant petroleum prices. He said they were particularly impressed by the policy of privatisation and opening up of economy to foreign investors and entrepreneurs.
Later, Zaiviji Ismail Bin Abdullah, Managing Director Shell Pakistan Limited and Muhammad Shahani Bin Baba of Kumplan SPL Development SDN, BHD Dar-ul-Ehsan Malaysia also called on him separately and discussed investment prospects in the petroleum, housing and health sector.
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