Sweden to invest $300m in Pakistan

Investment directed towards developing energy sector, technical education

KARACHI: The government of Sweden intends to invest $300 million in Pakistan’s energy sector, particularly in the development of solar and wind energy. The government also plans to invest in developing ways to minimise losses through transmission lines as well as in technical education, tourism, industries, agriculture, public-private partnerships, livestock and fisheries, said Sweden’s Trade Minister Ewa Bjorling at Chief Minister House on Thursday.

More than 29 members of a Swedish delegation met Sindh Finance Minister Murad Ali Shah, adviser to Sindh CM for information Sharmila Farooqui as well as the provincial secretaries for irrigation, power, livestock, fisheries and planning.

Shah welcomed the Swedish delegation and briefed him about the socio-economic situation in Sindh. “The economy of the province, where most of the people live in rural areas, depends on the agriculture sector,” he informed the delegates, adding that the urban areas are successfully exploring the industrial sector. He added that there is a problem in the development of energy and power, for which the government has initiated the Thar coal and energy project.

Secretary (planning) Naheed Shah Durrani also informed the delegates that the provincial government is encouraging investments in a number of sectors, for which it will extend guarantees and allocate land.

Except for Karachi, the province lacks in development, especially in the remote areas, she said, adding that the field of technical education particularly needs to be developed.

Ewa Bjorling stressed the need for coordination and collaboration in all fields and said that the Swedish team will meet with the Pakistani team again after one month.

Published in The Express Tribune, December 3^rd, 2010.