Asif stresses energy at investment moot

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Federal Minister for Water and Power Khawaja Asif said on Monday that Pakistan is the country where markets remain open till midnight and there is a need to adopt energy conservation habits to utilise available resources amicably.

He said there was a great potential for investors in Pakistan as there was a huge supply demand gap and regulations like access to information is a basic right to address any reservations of investors and free judiciary for ensuring accountability.

Chairing second session of “International Investment Conference: Invest Pakistan”, he said privatisation and deregularisation were the ultimate solutions to overcome the energy crisis in the country.

The minister further said the government was taking a number of steps to secure energy sector in the country and working on developing business-to-business sales between organisations without approval of the government of Pakistan or National Electricity Power Regulatory Authority for inculcating free investment culture.

Federal Secretary for Water and Power Younis Dhagha said currently the country was facing a gap of 5000 MW deficit of demand and supply and if appropriate steps would not be taken this gap would widen and the energy crisis would become a major threat in future.

He said it was high time to work on power sector because there was a great potential of investment in it with high rates of profit and safe investment opportunities.