ISLAMABAD: Minister for Power Omar Ayub Khan on Thursday said Power Division is working on renewable energy policy to harness immense potential in solar, wind and hydel resources.

He said the government is considering increasing share of renewable energy in the overall energy mix to 20 per cent till year 2025 from the existing four percent and take it to 30 percent till year 2030.

He said this in a meeting with Chinese Ambassador, Yao Jing who called on him at his office. Secretary Power Irfan Ali was also attended the meeting, a news release said.

The minister while acknowledging the important position of China-Pak Economic Corridor (CPEC) energy projects said that these are symbol of deep rooted relations between the two countries based on mutual respect.

He said the relations are further strengthening with each passing day.

Omar Ayub said Power Division was extending all out support to the Chinese and other investors in the power sector and their various issues were being resolved on priority.

Talking about huge investment potential in the solar panel market, smart meters and other distribution and transmission system equipment including anti fog insulators in Pakistan, the minister said that Chinese investors can take full benefit of these opportunities.

The Chinese Ambassador while reiterating China’s commitment to further boost existing ties between the two countries said, power sector has been the prime and most important areas of CPEC.

He said that Chinese investors are closely following Pakistan’s power sector policies and are keen to invest in the renewable energy.

The minister also apprised the Chinese Ambassador on the current anti-theft campaign by the Power Division which was gaining good results.

He also briefed him regarding initiation of smart meters projects in various distribution companies and invited the Chinese investors for manufacturing the same in Pakistan.