President Mamnoon Hussain has emphasized that reliable and uninterrupted supply of energy is vital for economic and social development of Pakistan. The president said that the government was committed to resolve the energy crisis and had launched various power projects in this regard.
The president was speaking to a delegation of K-Electric headed by its Chairman and Country Head Pakistan of the Abraaj Group Tabish Gauhar at Aiwan-e-Sadr on Tuesday.
The president said that Pakistan offered the best business and investor friendly policies in the region, adding that Pakistan’s policy trends had been consistent with liberalization, de-regulation and privatization. He stated that Pakistan is strategically located to become Asia’s premier trade, energy and transport corridor and urged investors to take advantage of it.
He acknowledged efforts of K-Electric for successfully meeting to large extent the challenge of continuous and stable supply of electricity to city of Karachi which was the economic hub of the country. He appreciated the initiative of K-Electric to rehabilitate and upgrade its transmission and grid stations with the state-of-the-art SCADA (supervisory control and data acquisition) system for real time and online monitoring of the network compatible with the fast growing industrial, commercial, and residential development activities in the city.
The delegation of K-Electric also briefed the President on the future investment plans of K-Electric and Abraaj Group in Pakistan. The President welcomed the investment plans of $ 2 billion by Abraaj Group in the power utility and assured of every possible co-operation in this regard.
