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Khawaja Asif, delegation discuss cooperation with OPIC President

In the final phase of his visit to Washington for the Energy Working Group meeting, Federal Minister for Water and Power Khawaja Muhammad Asif met with President Overseas Private Investment Corporation (OPIC) Ms. Elizabeth Littlefield and her team and discussed bilateral cooperation. During the meeting the two sides reviewed the program portfolio of OPIC in Pakistan. The president of OPIC, who had visited Pakistan earlier this year, noted that the recent reforms introduced by the Government of Prime Minister Nawaz Sharif in the energy sector had sent positive signal to the U.S. business community and would lead to enhanced flow of Foreign Direct Investment in the coming months.

Sharing details of the existing OPIC portfolio in Pakistan worth $400 million, Ms. Littlefield hoped that following the investor-friendly policies of the government, the size of the OPIC program would increase substantially in the near future. She informed that OPIC was considering a range of projects including in the field of wind energy, food processing and other sectors. A presentation on the OPIC wind projects in Pakistan was also made during the meeting.

The Minister for Water and Power emphasized that with the personal commitment of the Prime Minister to continue with his reform agenda, Pakistan was presenting an attractive choice for international investors.

He assured Ms. Littlefield that the US investors would be provided full facilitation by the government. According to the Pakistani embassy, the minister also highlighted the importance that Pakistan attached to attracting investments to build transmission lines and related infrastructure.

Terming wind energy as one of the priorities of the government, Secretary Water and Power informed that the government was determined to establish the “Wind Corridor” and would ensure that the additional electricity is added in the system without any delay.

The President OPIC thanked the Minister for Water and Power for his keen interest in the power sector reforms and hoped that OPIC would be able to significantly enhance its investment in Pakistan during the next two years.

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