Uzbekistan offers help in alternative energy

Also expresses interest in banking and infrastructure projects.

ISLAMABAD:

Uzbekistan Ambassador to Pakistan Oybek Arif Usmanov has offered Pakistan assistance in generating alternative energy and expressed keen interest in investing in banking, construction and infrastructure sectors.

The envoy, who called on Privatisation Minister Ghous Bux Khan Mahar on Wednesday, hoped that the current momentum of translating the excellent political relations into commercial and economic cooperation would pick up pace and promote bilateral cooperation.

Mahar said all economic sectors of the country were open for foreign investment, providing a level-playing field for local and foreign investors. “There are no restrictions on holding maximum equity with attractive incentives including unrestricted remittance of royalty, capital, profits and dividends, which fully protected foreign investment in the country,” he added.

He underlined the need for exchange of business delegations to explore investment opportunities under Pakistan’s privatisation programme and to tap the potential of different projects, particularly of the power sector. He said the privatisation programme was focused on improving the efficiency of state-run enterprises by involving the private sector through sale of 26 per cent government shares with management control.



Published in The Express Tribune, June 16th, 2011.