Government aims to diversify energy market

Energy minister discusses cooperation with UAE and Saudi Arabia

ISLAMABAD:

The government is fully committed to diversifying the outlook of energy market while making it more competitive and efficient, declared Federal Minister for Energy Omar Ayub Khan.

In a meeting with Ambassador of United Arab Emirates to Pakistan Hamad Obaid Ibrahim Salem Al-Zaabi on Wednesday, the minister highlighted the policies adopted by the government of Pakistan to revamp the energy sector, including those being followed in the oil and gas field.

Khan praised the UAE for its cooperation in Pakistan’s energy sector, saying Islamabad greatly valued its economic relations with the Middle Eastern nation.

During the meeting, the ambassador discussed progress on current projects in the petroleum sector and called for exploring additional opportunities to enhance cooperation in the energy sector of Pakistan.

According to him, collaboration in the energy sector will provide a fresh impetus to economic ties between the two countries.

Separately, in a meeting with Ambassador of Saudi Arabia to Pakistan Nawaf bin Saeed Ahmed Al-Malki, Khan stressed that the diversified energy sector of Pakistan presented a prime investment opportunity in order to boost economic growth of the country.

“Government is focusing on energy projects under the new renewable energy policy to harness local resources for power generation,” he told the Saudi envoy. “Revival of exploration and production activities in the oil and gas sector will attract investment in the country.”

Both sides deliberated on joint ventures between Pakistani and Saudi Arabian companies in the petroleum and energy sector.

The minister apprised the envoy of the progress on various energy projects undertaken in the wake of investment-friendly policies covering diverse fields to aid economic development in Pakistan.

The ambassador acknowledged the efforts made by the energy minister and his team with regard to joint Pakistan-Saudi Arabian projects in the energy sector. He stressed that the kingdom would continue to work with Pakistan to strengthen relations between the two countries.

Published in The Express Tribune, January 7^th, 2021.

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