ISLAMABAD: The government welcomes Saudi investment in Pakistan’s energy sector, stated Caretaker Prime Minister Anwaar-ul-Haq Kakar on Thursday.

He said this while talking to a four-member delegation of Saudi Arabia’s Al-Jomaih Group, led by Sheikh Abdul Aziz Hamad Al-Jomaih Head, which called on him.

The Prime Minister’s Office said that Al-Jomaih Group has invested heavily in K-Electric. The delegation thanked the government for solving the long-standing problems of the KE and informed the caretaker premier about the new investment projects of 1,500-MW and stated that these projects will rely on local sources and renewable energy.

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The caretaker prime minister said that Pakistan and Saudi Arabia have long-standing brotherly ties which are getting stronger with time. He said that the government highly values Saudi investment in Pakistan’s energy sector.

He said that the KE’s investment strategy in alternative energy is a welcome step which will help reduce electricity tariff for consumers and the government is optimistic that the KE will further improve its infrastructure in terms of uninterrupted power supply to domestic and industrial consumers. The caretaker prime minister encouraged Al-Jomaih Group to invest in alternative energy sector in Pakistan.

Caretaker Federal Minister for Finance Dr Shamshad Akhtar and Caretaker Federal Minister for Energy Muhammad Ali and relevant senior government officials were also present in the meeting.

Copyright Business Recorder, 2024