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German investment in Punjab power projects safe: Shahbaz
10-06-2012, 11:15 PM
Post: #1
German investment in Punjab power projects safe: Shahbaz
LAHORE–Punjab Chief Minister Muhammad Shahbaz Sharif has said that along with security issues, energy crisis is the biggest challenge facing Pakistan. Estimating the average shortfall at 6,000MW in the country the CM said, Punjab, the biggest province in terms of population, is the major victim of energy crisis as compared to others provinces in Pakistan. He said that generation of electricity is the responsibility of the federal government and its attitude towards Punjab over the electricity distribution is quite unjust and unfair. Shahbaz Sharif said that, without relying on the federal government, the Punjab government is expeditiously implementing its own electricity projects under a durable and concrete strategy. Vast opportunities of generation of electricity through coal and hydel power exist in Punjab where the German investors can safely invest in this sector, the CM said this while talking to senior authorities of energy companies of Germany in Berlin on Friday. The representatives of the German energy companies also gave a detailed briefing on solar energy projects on the occasion. Shahbaz Sharif told representatives of German energy companies that all sectors of life are getting affected by severe energy crisis in Pakistan including industry, agriculture, education, health and other sectors. He noted that unemployment is increasing because industries are closing down due to shortage of power while the whole country is confronting terrible energy crisis due to wide gap between the demand and supply of electricity. Shahbaz Sharif said that there are vast opportunities of generation of solar power in Pakistan as the sunlight is available throughout the year and its proper utilisation can help a great deal in overcoming energy crisis. He said that investment in the energy sector in Pakistan is a highly profitable venture and Punjab government desires that German companies should invest in solar energy projects in Punjab to get hefty profit. He said that German solar system is considered to be the best in the world and it has unparalleled expertise in solar energy sector due to which we want to benefit from German solar technology. Shahbaz Sharif said that we have more than 500 million tons coal and Australian energy companies have successfully conducted an energy sector survey in recent years. He said that coal provides great opportunities for generation of energy. Shahbaz Sharif said that he and his delegation have come to Germany to seek German cooperation regarding investment in energy sector. He assured German investors that all possible facilities would be provided to them and called upon them to invest in Punjab with an open heart. The representatives expressed their willingness to sign a memorandum of understanding for strengthening energy sector in Pakistan.
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