PM Kakar invites Saudi group to invest in alternative energy sector

ISLAMABAD: Careta­k­er Prime Minister An­­w­a­arul Haq Kakar on Thu­rsday urged the Al-Jomaih Group of Saudi Arabia to invest in the alternative energy sector of Pakistan.

Mr Kakar, in a meeting with a four-member delegation, led by the Al-Jomaih Group head Sheikh Abdulaziz Hamm­ad, said Pakistan and Saudi Arabia had brotherly ties which were getting further stronger. Al-Jomaih earlier made a huge investment in K-Electric.

The prime minister said that Pakistan greatly valued the Saudi investment and welcomed its investment in the energy sector. He also lauded K-Electric’s strategy to invest in the alternative energy sector as it would help reduce the power tariff and thus benefit consumers.

The prime minister also expressed the hope that K-Electric would improve its infrastructure to ensure uninterrupted power supply to domestic and industrial consumers.

The Al-Jomaih Group thanked the prime minister and the government team for resolving longstanding issues faced by the company.

Apprising the prime minister of the company’s 1,500-megawatt projects, the delegation said the projects would feature the usage of local resources and alternative energy.

Federal Finance Minis­ter Dr Shamshad Akhtar, Minister for Energy Muham­mad Ali and senior officers attended the meeting.