Minister for Water and Power, Raja Pervaiz Ashraf has offered Italian investors to start investment in coal and hydel power generation projects in Pakistan.
Talking to the Italian delegation, headed by Italian Ambassador, Vincenzo Prati who called on him here, the minister said power sector in Pakistan has great potential and the foreign investment in the coal and hydel power generation will help to meet the country's future requirements.
He informed the envoy that the government has liberal policies to attract foreign investment as the procedural requirements have been simplified and now there are no issues of tariff fixations, he added.
He said that Pakistan was facing severe power crisis and the government was taking all short, medium and long-term measures to combat the menace of the load-shedding and various projects are being offered to the investors, consortium through open bidding.
He said that hydel and coal is now the main focus of the government to generate cheaper electricity. He added an international conference on coal is being organised in Washington next month, where investors from all over the world will be invited to seek their investment in Thar coal for power generation.
Earlier, the Ambassador said that the Italian companies are interested in the power sector and transfer of technology projects in Pakistan. He said that the Italy is also keen to generate power through solid waste and some proposals will be submitted in this regard. He said that investment potential in the hydel and coal power generation will be considered and project details will be submitted to the investors.