ISLAMABAD: Pakistan is diversifying its energy mix and aims to provide electricity on economical rates to consumers. For this purpose, it has been decided to move from furnace oil and diesel to LNG and hydro-based projects.
This was stated by Minister for Finance Ishaq Dar while talking to delegations of the CSAIL (China Three Gorges South Asia Investment Limited) and International Finance Corporation. A statement issued by the Ministry of Finance said that the meeting also discussed matters pertaining to the enhanced engagement of CSAIL in power projects in Pakistan.
The CSAIL Board chairman briefed the minister 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.
He 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. Finance Minister Ishaq Dar appreciated 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.
