ISLAMABAD, Nov 18: Minister for Water and Power Raja Pervez Ashraf has said the government will welcome Austrian investment in hydel power and alternative energy projects.
Talking to Austrian Ambassador Dr Michael Stigelbauer, he said the government would offer necessary incentives to companies interested in investing in the water and power sector.
The ambassador said several Austrian companies were interested in hydroelectric, wind, and solar energy projects.
The minister sought comprehensive proposals for energy-related projects.
Mr Ashraf said the government was taking steps to bridge the electricity demand-supply gap.
Short-, medium- and long-term plans have been prepared to meet the energy requirements till 2015.
He said the government was giving priority to coal and alternative energy projects.
The ambassador briefed the minister on possible investment by Austrian firms and their expertise in hydropower and alternative energy projects.
He said a group of Austrian investors would visit Pakistan during a meeting of joint economic commission likely to be held early next year.
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