ISLAMABAD – Minister for Finance Ishaq Dar Pakistan is diversifying its energy mix and moving from furnace oil and diesel to LNG and hydro-based projects so as to provide electricity to consumers on economical rates.
He was talking to team of the China Three Gorges South Asia Investment Limited (CSAIL) and International Finance Corporation. The meeting also discussed matters pertaining to the enhanced engagement of CSAIL in power projects in Pakistan, a statement issued by the Ministry of Finance said.
The minister was briefed by the CSAIL Board chairman about the $6 billion worth of solar, wind, wind-solar hybrid and hydro power projects of 3,000MW that his company is already undertaking in Pakistan. The chairman said CSAIL has already taken up investment in projects on the Jhelum River and now desires to work on projects upstream on the river Indus and has a plan to facilitate power generation up to 4,000 megawatts in the long run.
Mr Dar praised the investment by CSAIL and welcomed the company’s plan to expand its operations beyond the already undertaken projects to make CSAIL a sustainable entity in power sector in the country. The minister assured the delegation of all possible support to the company in its future ventures. Both sides agreed to have further deliberations to pinpoint possible projects for investment by CSAIL and also to discuss conditions in this regard.
