'Saudi investment to reduce import bill'

Finance Minister Asad Umar says the country’s energy needs will be fulfilled in an environment-friendly manner

ISLAMABAD: Federal Minister for Finance Asad Umar has said a Saudi company is interested in investing in Pakistan’s energy sector.

The finance minister said after a meeting with a delegation headed by Saudi Arabia’s Minister for Energy, Industry and Mineral Resources Khalid Al Falih that the investment will lead to reduction in Pakistan’s import bill, while the country’s energy needs will be fulfilled in an environment-friendly manner.

Prime Minister Imran Khan and HRH Crown Prince Mohammed bin Salman witnessing the signing of MoUs at Islamabad. 🇵🇰🇸🇦#CrownPrincePakistanVisit #InvestInPakistan pic.twitter.com/tX72XP6huf

— Government of Pakistan (@GovtofPakistan) February 17, 2019

Umar further said that the Saudi company Aqua Power is a global name in renewable energy sector and lauded interest of the multinational in investment in the country’s energy sector.

“Aqua Power will produce electricity through solar energy, while increase in the amount of renewable energy resources will cut down the import bill of the country,” he said. The finance minister and the delegation led by the Saudi energy minister held discussions pertaining to plans for investment worth billions of dollars.

Published in The Express Tribune, February 18^th, 2019.