Federal Minister for Petroleum and Natural Resources, Amanullah Khan Jadoon said on Saturday that the government was focusing on exploiting indigenous energy resources and chalked out a comprehensive plan to generate 20,000 MW electricity by 2019 using coal.
He was speaking at a breakfast meeting hosted by him for the delegates representing world mining industry and financial institutions gathered in London to attend the International Mines and Money-2005 conference. Jadoon said the government had introduced a very liberal mining policy for foreign investors supported by investment friendly regulatory and fiscal regimes.
There was no restrictive mineral list for foreign investors or any requirement of mandatory local participation besides repatriation of investment and profits, he added.
He said that looking at investment opportunities in Pakistan, one could never overlook the petroleum and natural resources sector due to its emergence as one of the most prospecting areas for investment owing to attractive incentives and pursuing the policies of de-regulation, liberalisation and privatisation.