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Energy cooperation: OPIC may invest in wind energy sector

Federal Minister for Water and Power Khawaja Muhammad Asif met with Overseas Private Investment Corporation (OPIC) president Elizabeth Littlefield as part of his visit for the Energy Group Meeting. In the final phase of the meeting the two teams met and discussed future bilateral economic cooperation.

During the meeting the Pakistani delegation had prepared a presentation on the OPIC wind projects. He assured Littlefield that the US investors would be fully supported by the government. The minister also highlighted the importance for Pakistan of attracting investment to build transmission lines and related infrastructure.

The two teams reviewed the programme portfolio of OPIC in Pakistan. Littlefield, who had visited Pakistan earlier this year, noted that the PML-N government has taken several positive reforms in the energy sector that has encouraged the US business community to consider Pakistan for future investments.

She said that these reforms would lead to an improved flow of foreign direct investment in the coming months. She added that OPIC was considering a range of projects in various fields, which would include the wind energy sector and the food processing sector. Littlefield shared details of the existing OPIC portfolio which is worth $400 million. She hoped that following the investor-friendly policies of the government, the size of the OPIC programme would increase substantially in the future.

The secretary of Water and Power termed the wind energy projects as top priorities of the government and stated that the government was determined to establish the “Wind Corridor” and would ensure that the additional electricity is added to the system immediately.

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