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Pakistan only country to allow free CDM projects
KARACHI (June 29 2010): Pakistan has emerged as the only country in the region that allows fees-free investment approvals to Clean Development Mechanism (CDM) projects, said Federal Minister for Environment, Hameedullah Jan Afridi here on Monday. He was speaking with Korean investors and Pakistani industrialists at "Korea-Pakistan Green Business Forum" session, organised by Ministry of Foreign Affairs and Trade, Ministry of Environment and Korean Trade and Investment Agency (KOTRA).
Afridi said the government, as a matter of policy, is keen to promote "Carbon Finance Schemes" as the country holds tremendous potential to avail the opportunity and cut its dependence, to almost zero, on foreign loans. CDM can help a country like Pakistan benefit from Carbon Finance Schemes (CBF), he said, adding it needs to be better understood by the private sector as the government is keen to focus on overall development.
Unlike China and India, Pakistan introduced CDM in 2010. "However, in a short span of two years, we have approved 25 CDM projects out of which seven are registered with CDM Executive Board, while another 120 projects are at different developmental stages," he enlightened.
As for direct benefit of approved CDM schemes, he said these have led to a direct investment worth US $742 million and reduction in the emission of four million tons of carbon. Addressing the Korean participants, he said Pakistani government is fully conscious that the countrymen have yet to be trained in the CDM technology. "It was our friend China that made us conscious of it and now we are looking around to gain maximum technical know-how and make optimum use of it," he said. The minister, on the occasion, also responded to queries raised by participants including availability of relevant data and infrastructure.
He said Pakistan has a certain criteria to assess CDM projects and is fully conscious that these are not only meant to convert sources of energy, but also for conservation of energy. To a question about sector with the highest Green House Gas abatement potential, he said brick manufacturing units top the list with 10.0 million tons carbon abatement potential per year, followed by transport sector (8.8 million tons), oil and gas sector (6.53 million tons), textile industry (5.62) etc.
Lee In-Ki, Consul General of Korea hoped that friendly relations between Korea and Pakistan would lead to meaningful co-operation between the two countries, including training provision for concerned professionals belonging to Pakistan. He on the occasion threw light on the reasons that led to establishment of KORTA Senior government officials belonging to Ministry of Foreign Affairs, Trade and Environment including Feroz Shah, Syed Amjad Hussain also actively participated in the session.
Copyright Associated Press of Pakistan, 2010
Business Recorder [Pakistan's First Financial Daily]
KARACHI (June 29 2010): Pakistan has emerged as the only country in the region that allows fees-free investment approvals to Clean Development Mechanism (CDM) projects, said Federal Minister for Environment, Hameedullah Jan Afridi here on Monday. He was speaking with Korean investors and Pakistani industrialists at "Korea-Pakistan Green Business Forum" session, organised by Ministry of Foreign Affairs and Trade, Ministry of Environment and Korean Trade and Investment Agency (KOTRA).
Afridi said the government, as a matter of policy, is keen to promote "Carbon Finance Schemes" as the country holds tremendous potential to avail the opportunity and cut its dependence, to almost zero, on foreign loans. CDM can help a country like Pakistan benefit from Carbon Finance Schemes (CBF), he said, adding it needs to be better understood by the private sector as the government is keen to focus on overall development.
Unlike China and India, Pakistan introduced CDM in 2010. "However, in a short span of two years, we have approved 25 CDM projects out of which seven are registered with CDM Executive Board, while another 120 projects are at different developmental stages," he enlightened.
As for direct benefit of approved CDM schemes, he said these have led to a direct investment worth US $742 million and reduction in the emission of four million tons of carbon. Addressing the Korean participants, he said Pakistani government is fully conscious that the countrymen have yet to be trained in the CDM technology. "It was our friend China that made us conscious of it and now we are looking around to gain maximum technical know-how and make optimum use of it," he said. The minister, on the occasion, also responded to queries raised by participants including availability of relevant data and infrastructure.
He said Pakistan has a certain criteria to assess CDM projects and is fully conscious that these are not only meant to convert sources of energy, but also for conservation of energy. To a question about sector with the highest Green House Gas abatement potential, he said brick manufacturing units top the list with 10.0 million tons carbon abatement potential per year, followed by transport sector (8.8 million tons), oil and gas sector (6.53 million tons), textile industry (5.62) etc.
Lee In-Ki, Consul General of Korea hoped that friendly relations between Korea and Pakistan would lead to meaningful co-operation between the two countries, including training provision for concerned professionals belonging to Pakistan. He on the occasion threw light on the reasons that led to establishment of KORTA Senior government officials belonging to Ministry of Foreign Affairs, Trade and Environment including Feroz Shah, Syed Amjad Hussain also actively participated in the session.
Copyright Associated Press of Pakistan, 2010
Business Recorder [Pakistan's First Financial Daily]
