Pakistan, Japan agree to enhance cooperation in energy sector

20

 

STAFF REPORT

ISLAMABAD

Ambassador of Japan to Pakistan  Mr. Kuninori Matsuda called on Federal Minister for Power and Petroleum Mr. Omar Ayub Khan here Tuesday and matters related to mutual cooperation between the two countries especially in the Energy sector were discussed in the meeting.

It was agreed that the existing cooperation in the sector was satisfactory and it would be further enhanced, said a press release issued here.

Mr. Omar Ayub Khan apprised the Japanese Ambassador on various steps taken by the Government in improving and making it attractive for investment in the Energy Sector.

He informed that in Power Sector a new renewable energy policy was in the offing that would provide a level and competitive ground for investors with good rate of return on their investments.

He further briefed the Ambassador that concept of wheeling across the existing electricity Distribution network has also been planned that would open up the electricity trade and establish a competitive market both for consumers and investors in the country.

The Minister informed Mr. Kuninori Matsuda regarding the Government’s phased plan to arrest and eliminate circular debt that was considered a major hindrance in attracting potential investment in the power sector.

Mr. Kuninori Matsuda congratulated the Federal Minister on successful running of power supplies during the Holy Month of Ramzan after more than a decade time.

He also expressed satisfaction over the drive against Energy theft and leakages that enabled recovery and collection of record revenues for the first time.

The Japanese Ambassador informed the Federal Minister that Japanese companies including Mitsubishi were participating in various energy sector projects.

He said that many other companies were keenly observing Pakistan’s vibrant energy sector.

He also apprised the Federal Minister that JAICA was undertaking many projects in the energy sector including the development of Master Plan for country’s electricity Transmission System for NTDC that would be ready by next year.