Federal Minister for Energy Mr. Omar Ayub Khan met Her Excellency Ms. Lis Rosenholm, Ambassador of Denmark to Pakistan in his office today. Mr. Tabish Gauhar, Special Assistant to Prime Minister on Power also joined the meeting.
During the meeting, the outlook of an emerging market of the energy sector and business opportunities in view of newly approved Alternative Energy Policy.
RecommendedMust Read
The Minister while acknowledging the lead role of Denmark in clean and green energy at the global level said that Pakistan too embarked upon taping huge indigenous potential of renewable energy.
The Minister said that Pakistan’s New Renewable Energy Policy would bring opportunities for investors due to transparent policies of the current government. He said that the government had set an ambitious target to introduce 25 percent renewable energy by 2025, and 30 percent by end of 2030 including 45 percent share of hydel power generation and 10 percent of nuclear energy into energy mix of the country.
While explaining the investment potential in Power Sector, the Minister said that the Government would induct renewable energy-based power plants through open & transparent competitive bidding process, which would lower the cost of production of electricity. He also apprised the envoy that the government had prepared the Indicative Generation Capacity Expansion Plan (IGCEP) 2047 for competitive market structure, generation, up-gradation of transmission, Smart AMI and modernization of distribution system.
The Minister apprised the Danish Ambassador that with lowering of electricity cost for industries and establishment of Special Economic Zones (SEZs) would boost economic activity along with creation of thousands of new jobs in the country.
The Danish Ambassador while appreciating the government’s commitment to raise the share of renewable clean and green energy, said that the new policy is more transparent as it provides a level playing field for all.
She suggested to set up a joint energy platform to study the market, so that Danish companies would closely follow developments in the field of renewable energy and they could participate in the competitive process of renewable energy projects.
