ISLAMABAD, Feb 16 : The United Arab Emirates, (UAE) will invest millions of dollars in power sector in Pakistan. This was stated by the UAE Minister of Energy Muhammad bin Dha‘er al Hamili during a meeting with Minister of Water And Power Liaquat Ali Jatoi here on Thursday. He termed Pakistan a country of high economic growth, which was emerging as a potential market in the region. It also provided great a opportunity to the foreign investors to put capital for a successful business.

Both sides agreed that there should be continuity of such meetings to early finalize the investment projects. It was decided that the Pakistani ministry, NESPAK and PPIB will provide all required information, detailed study reports of various water and power sector projects. Liaquat Jatoi also offered to conduct surveys and consultancy, feasibility studies of projects by NESPAK as per requirements of the UAE.

The UAE delegation was informed about the simplified procedures for making investment in Pakistan. The delegation was further informed that a fixable regime for foreign investment existed in the country and no procedural problem would impede development power sector, it also

Mr. Jatoi observed that the power sector had great potential and viable future for making profitable investment in Pakistan as the demand of power had registered an increase of 10-12 per cent in the country, he added.

The minister also urged the delegation to make investment in water sector as the government was going for construction of mega projects like Bhasha and Munda dams in near future. He extended full cooperation. He also informed the delegation that the government was following a policy of privatization and deregulation. He said that 96 per cent work of re-structuring of WAPDA has been completed.

Earlier the minister welcomed the UAE delegation and said that Pakistan had old and cordial relations with the UAE and their visit to Pakistan would further boost trade and economic ties between the two countries.

The UAE minister expressed great satisfaction over the economic situation of Pakistan and informed the Pakistani side that the UAE had vast experience in the power sector particularly, in combined cycle projects.

He revealed that two power plants would soon be arriving in Pakistan, which had been donated by the UAE to WAPDA for Lahore and Karachi which would improve power transmission system.