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Ongoing power generation projects to help meet electricity shortage: President

By admin | February 13, 2008

President Pervez Musharraf Wednesday said several short, medium and long term power generation projects were in various stages of completion which would help meet the growing electricity demand. Talking to Regional Managing Director of International Power, Vince Harris, who called on him here at the Camp Office, the President said fast track development of energy projects was vital for country’s economy.

International Power is a leading independent electricity generating company with 16,372 MW (net) in operation and 1,706 MW (net) under construction, in 40 power stations around the world. It has 40% stake in 586 MW gas fired Uch Power Limited, besides the Hubco and Kot Addu Power Company.

The President said several projects were underway across the country to generate more electricity through hydel, thermal, nuclear and alternative sources and hoped that the prevailing energy shortage would soon be met.

Vince Harris expressing his satisfaction over the “investment climate” of the country said his company was looking forward to invest in more power generation projects.

The UK based International Power is one of the biggest investors in the country’s power sector.

Vince Harris said his company was not concerned with the temporary ups and downs in the economy, as they believed that the overall economic policy framework of the Pakistan government was very stable and encouraged rapid growth.

He said the electricity demand had increased owing to the sustained economic growth in the past five years. He said the International Power would furtehr invest in short, long and medium term power generation projects in Pakistan.

Caretaker Minister for water and power Tariq Hameed was present during the meeting.

Topics: Pakistan News |