The Investment Minister of Pakistan, Senator Waqar Ahmed Khan, has met with senior energy sector officials from Abu Dhabi during a visit to the UAE.
The meeting was between Senator Khan and officials from the Abu Dhabi National Energy Company (TAQA) and included discussions about possible investment in the Pakistani energy generating industry.
Speaking of the current situation in his country, Senator Khan said: “Pakistan currently has an energy shortfall of 4,500 MW, which creates opportunities for significant investment in the country’s energy sector.”
“Although this figure is expected to decrease to 2000-2500 MW within the next 18 months, increased energy consumption may, in fact, result in an increase in the shortfall.”
According to Minister Khan, TAQA expressed interest in the acquisition of existing power generation and supply units as well as installation of new units, and requested Senator Khan to identify potential projects.
TAQA has already expressed interest earlier this year in investing in Pakistan’s energy sector, particularly in setting up a coal-based power plant that has abundant untapped coal reservoirs.
This is Minister Khan’s second visit to the UAE in 2009. The UAE is the largest investor in Pakistan among GCC countries, having invested US$3.74 billion in the country between 2004 and 2008.
In February this year the UAE signed a Memorandum of Understanding to hand over a 13 unit, 320 MW gas-fired power plant to Pakistan to help meet its immediate energy requirements.
