News Column

CM urges Germans to invest in energy sector

February 26, 2014

Punjab Chief Minister Muhammad Shahbaz Sharif has said that there are friendly relations between Pakistan and Germany, and Germany is among big trading partners of Pakistan.He was talking to German Ambassador in Pakistan Dr. Cyrill Nunn who met him, here on Wednesday. Matters of mutual interest as well cooperation in different sectors including energy were discussed on the occasion.The CM also stressed the need to further increase the volume of trade between the two countries. "There are vast opportunities of investment in energy and other sectors in Punjab and German investors should benefit from them", he said.

He said that Germany can increase bilateral cooperation in energy and other sectors as the shortage of energy has affected national economy as well as all sectors of life.

He said that controlling of energy crisis is essential for promotion of business activities and stability of economy. and the government is sincerely endeavouring to cope with the problem.

He said that special incentives are being offered to local and foreign investors for investment in energy sector.

He said that agreements have been signed with several foreign companies which are being implemented expeditiously.

He said that Germany has expertise in solar energy and Punjab government wants to benefit from it.

Shahbaz Sharif said that government has taken effective measures for providing complete protection to foreign investors in Punjab. He assured that German investors as well as their capital will be extended full protection in the province.

German Ambassador Dr. Cyrill Nunn said that there is a vast scope of bilateral cooperation between Pakistan and Germany and promotion of trade relations can help strengthen the bonds of friendship between the two countries.

The Chief Minister said that besides federal government, provincial government is also working on hydle, solar, coal-based and other projects of power generation through alternatives sources.

He said that work is being carried out on a big project of power generation from coal in Punjab while the project of Quaid-e-Azam Solar Park, over a vast area in Bahawalpur, is being implemented speedily.

He said that basic infrastructure has been provided in the solar park.

He said the Punjab government is setting up a 100 megawatt solar power project in Quaid-e-Azam Solar Park with its own resources and it will start production from this year.

Chairman Lahore Transport Company Kh. Ahmed Hassan, Additional Chief Secretary Energy, Chairman Punjab Investment Board and Managing Director Punjab Metro Bus Authority were also present on the occasion.

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Source: Daily Messenger (Pakistan)

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