Nawaz asks China for massive energy sector investments

Investments needed to end Pakistan’s acute power shortage.

Currently on an official visit to China, Pakistani Prime Minister Nawaz Sharif said his pro-business and investment friendly government welcomes Chinese investment in Pakistan’s energy sector.

He said ending Pakistan’s energy crisis was the top priority of his government and welcomed all the Chinese and foreign investment in this regard. He said that Pakistan wants to generate maximum chunk of power through coal.

Nawaz also said he will eliminate all the bottlenecks to investment in energy sector and hopes Chinese investment in this sector will take the lead. He noted that the government is implementing an energy roadmap.

He invited the Chinese to invest in hydroelectric power projects and noted that the Neelum Jhelum Hydropower Project was being executed by a Chinese company.

Referring to three power projects in Karot, Kohala and Taunsa being executed by China’s Three Gorges Corporation, Nawaz said these would add 2,000 MW to the national grid.

He said his government looked forward to Chinese investment in the renewable energy sector, particularly wind and solar, with the country having accumulated potential of 60,000 MW.

The prime minister said Pakistan had coal reserves of 185 billion tons that has the capacity to generate 100,000 MW for 300 years.