Pakistan's Energy & Water - News and Updates

[A.Rafay]

Cheap Resource: Coal to help cut power production cost
LAHORE:
Pakistan Economy Watch President Dr Murtaza Mughal, while welcoming the government’s plan to run inefficient thermal power plants on coal, has said it will not only enhance power production from Jamshoro and Guddu plants by 700 megawatts but will also reduce production cost by Rs7 per unit.
In a statement, Mughal said the government should plan to covert more power plants into coal-based stations in order to lessen reliance on expensive furnace oil, slash production cost and reduce oil imports.
He was of the view that running of power plants on coal produced locally would improve energy mix in the country. Though consumption of coal in power plants could reduce the demand-supply gap to some extent, some bold steps were needed to overcome power shortages, he said.

 

[Introvert]

Pakistan decides to buy 1000MW electricity from Turkmenistan
Dated: 2012-09-18

ISLAMABAD: Pakistan has decided to import one-thousand megawatt electricity from Turkmenistan in order to overcome the current power outage.

Ministry of Water and Light has said that the imported light would cost at two to three rupees while the remaining amount would be invested over its transition, media reported.
Under the project Turkmenistan would provide thirteen-hundred megawatt electricity, out of which Afghanistan would import three hundred megawatt and Pakistan would import one-thousand megawatt electricity.

The cost of the project is one billion dollar, while all the preparations are made for the required investment in the project. And the all the financial matter would be finalized till 2013, where the project would be completed in 2016.

ONLINE - International News Network

 

[A.Rafay]

Only alternative irrigation techniques can help save water​

ISLAMABAD - A meeting for adopting alternative irrigation systems and techniques to conserve water in the country was held on Thurday.
“If water availability is threatened, the subsequent socio-economic structure, particularly in the rural areas will be at greater risk”, said Dr.Iftikhar Ahmad, Chairman, Pakistan Agricultural Research Council (PARC), while speaking at the Annual Review and Planning Meeting of the Project “Watershed Rehabilitation and Irrigation Improvement” here on Thursday.
The Watershed Rehabilitation and Irrigation Improvement Project in Pakistan was sponsored by the United States Department of Agriculture (USDA) and ICARDA launched the subject project in Pakistan in collaboration with PARC.
The objective of the meeting was to review the progress of the project, to suggest amendments in the approved work plan and to brainstorm on how best to disseminate technologies.
Dr Iftikhar said that Pakistan primarily has an agro-based economy, wherein annually around 22 percent GDP contributions are derived from the agriculture sector.
He said that contributions of the agriculture sector were mainly dependent on irrigation water availabilities besides other crop production inputs.
“The failure of agricultural production will also hamper livelihood in urban settings besides creating food security and safety issues”, he added.
He said that due to many reasons particularly improper water management at all levels, Pakistan was fast becoming a water-insufficient country.
The challenges of soil and water conservation, their productivity enhancement, other natural resources management and livelihood opportunities generation in these remote areas were of vital importance.
He said “we have introduced a number of water-smart technologies over time, such as drips, sprinklers, laser-land leveling and bed plantation.
However, the use of such technologies will remain suboptimal unless trained human resource is available in the country”.
Todd Drennen, a representative from USDA said that 90 percent of the total water in Pakistan was used for agriculture. It is thus the responsibility of the agriculture sector to find out ways to protect the supply and better and more efficient ways to use it.
“Under this project a process had started to help farmers understand alternative irrigation systems and techniques.
The success of this program will ultimately be measured by the adoption of new irrigation technologies and water storage techniques”, he added.

 

[Introvert]

300MW power plant in Bin Qasim soon

KARACHI - A Czech Republic investors’ group has planned to set up steel billets making plant with 1.2 million ton annual steel capacity and 300-MW coal-fired power plant in Bin Qasim Town, close to the Pakistan Steel Mills. A delegation of investors of the Santex Pakistan Limited (SPL), which is a subsidiary of Santex Group based in Czech Republic, informed this during their meeting with Sindh Finance Minister Syed Murad Ali Shah and Zubair Motiwala, Chairman Sindh Board of Investment on Sunday. Muhammad Ashraf, Director SPL informed the Sindh finance minister and Sindh Investment Board chairman that a cooperation agreement with the suppliers has been concluded and project financing has been secured on September 10, 2012 during the recent Brno International Trade Fair in Czech Republic. The SPL has also paid the full amount of equity for the project and is planning to formally announce the project and financial close during the month of October 2012 at a befitting ceremony in Prague.The 300MW coal-based power plant has excess capacity of more than 150MW that would be made available to the national grid. It was also told that the project would be delivered on turn-key basis and completed in two and a half years by June 2015.Sindh Finance Minister Murad Ali Shah appreciated SPL for their effort and assured complete support of the government in the project that shows the increased confidence of serious foreign investors in Pakistan’s economy and abundance of business opportunities.The SPL Team expressed their complete confidence in Pakistan and thanked the minister and the chairman for their patronage and assurance of support for this venture.On the occasion, Brig (r) Mohtaram of SPL, Secretary Finance Arif Ai Khan, Secretary Coal and Energy Eijaz Ali Khan, Secretary Energy and Power Sohil Rajput, Director General SBI Riazuddin, Director Coal Shahab Ansari and other officers were also present.

300MW power plant in Bin Qasim soon | The Nation

 

[A.Rafay]

No power cuts from October, decides govt
ISLAMABAD - With the general elections around the corner and an early advent of the winter season, the federal cabinet on Wednesday decided to end load shedding within the next month at all costs so that the coalition government could go to their voters with some concrete achievement in hand in order to seal the campaigning sale, Pakistan Today has learnt reliably.
The cabinet also approved the National Climate Change Policy framed under the guidelines of the UN Framework Convention on Climate Change to tackle the challenges posed by climate change.
However, the ministers of the Muttahida Qaumi Movement (MQM) boycotted the cabinet meeting for what they called continued delaying tactics by the ruling party over the SPLGO 2012 and the same had been conveyed to the prime minister.
A source in the cabinet said Prime Minister Raja Pervez Ashraf, once himself in the line of fire for failing to control power crisis, came down hard on Water and Power Secretary Zafar Mahmood during the meeting.
Ashraf lashed out at Mahmood for his failure to improve the load shedding situation, cutting down the circular debt and failing to effectively coordinate between the ministries of water and power and oil and gas to ensure sustained provision of furnace oil, gas and other necessities to the independent power producers (IPPs).
The source said the water and power secretary could not satisfy a number of queries put forth by the cabinet members during his briefing on load shedding and power production and recovery of bills from defaulters.
He added that the cabinet members also took to task Finance Minister Dr Abdul Hafeez Shaikh and Adviser to PM on Petroleum and Natural Resources Dr Asim Hussain for failing to provide necessary items to the IPPs leading to load shedding.
The source said Mahmood tried to respond to the arguments raised by the cabinet members but failed, attracting bitter criticism. The prime minister said he had handled the ministry previously and even he had been misled by the bureaucracy due to which the government and he himself had faced criticism.
The source said the prime minister expressed dissatisfaction with the working of the energy committee of the cabinet,
directing the committee to expedite its efforts to resolve the issue of load shedding within minimum possible time.
Ashraf also decided to summon a special meeting of the cabinet to discuss the energy crisis next week and directed for taking steps to end the load shedding forthwith. The special meeting would be briefed by ministers for finance, water and power and petroleum and natural resources.
In his opening remarks, the prime minister said in the very first meeting of the cabinet, he had highlighted that addressing the energy crisis would be top priority of his government.
He said the government was making sincere efforts to enhance the capacity of power generation plants to overcome the crisis, adding that the government was committed to achieving energy security, though it was a Herculean task. The prime minister said Pakistan was the first country to register a protest at a national level against sacrilegious movie and the government of Pakistan had condemned the movie at all forums.
President Asif Ali Zardari also expressed deep dismay and grief of the people of Pakistan over the blasphemous movie while discussing Pak-US ties in the United States.
However, the PM said he was upset to see some miscreants destroying and damaging public and private property on the day of Youm-e-Ishq-e-Rasool (PBUH).
Still, he was pleased to see the youth repairing the damage caused by unruly protesters in the country.
The cabinet considered and confirmed decisions taken by the Economic Coordination Committee (ECC) in its three successive meetings held on August 7, August 16 and September 4. The cabinet also approved the National Climate Change Policy framed under the guidelines of the UN Framework Convention on Climate Change to tackle the challenges posed by climate change.
The main objectives of the climate policy state that it would help pursue sustained economic growth by appropriately addressing the challenges of climate change.
The policy will ensure water security, food security and energy security of the country in the face of challenges posed by climate change. It would minimize the risks arising from expected increase in frequency and intensity of extreme weather events: floods, droughts, tropical storms etc.
It will also strengthen inter-ministerial decision making and coordination mechanisms on climate change; and will facilitate effective use of the opportunities, particularly financial, available both nationally and internationally. The policy will foster the development of appropriate economic incentives to encourage public and private sector investment in adaptation measures. In order to promote conservation of natural resources and long-term sustainability this policy will also be effective.
The cabinet appreciated the initiative of Minister for Climate Change Rana Farooq in obtaining consensus of all stakeholders and preparing a comprehensive policy. Discussing implementation of the policy, the prime minister directed that Islamabad should be declared a model city and the policy implemented in letter and spirit.
The cabinet also considered and accorded its approval to start negotiations on memorandum of understanding (MoU) on disaster management between Ministry of Emergency Situations of Kazakhstan and National Disaster Management Authority, Ministry of Climate Change of Pakistan. The cabinet also approved initiation of negotiations for Trilateral Transit Trade Agreement among Pakistan, Afghanistan and Tajikistan and signing of revised draft between Pakistan and the government of the Russian Federation for Mutual Defense Cooperation.
The cabinet also accorded approval for ratification of Inter-Governmental Agreement signed between Pakistan and government of Italian Republic for Euro 57.75 million support for Citizens Damage Compensation Program and initiate negotiations on MoU between Pakistan and Qatar in the fields of health and medical sciences.
The cabinet approved ratification of the charter of Economic Cooperation Organization Educational Institute (ECOEI). The cabinet accorded approval to start negotiations with the Russian Federation for conclusion of agreement on mutual cooperation between the Ministry of Justice of the Russian Federation and the Ministry of Law and Justice of Pakistan.
It also accorded approval to start negotiations and signing of MoU between Tunisian Institute of Agricultural Research and Higher Education (IRESA) and Pakistan Agricultural Research Council. The MoU aims to enhance scientific and technical cooperation in agriculture sector. The cabinet also considered and accorded its approval to sign agreement on promotion and protection of investment with Economic Cooperation Organization (ECO) member states.

No power cuts from October, decides govt | Pakistan Today | Latest news | Breaking news | Pakistan News | World news | Business | Sport and Multimedia

 

[ajtr]

Neelum-Jhelum: Abu Dhabi Fund withholds $100 million loan for power project

ISLAMABAD: The Abu Dhabi Fund (ADF) has withheld a $100 million loan it had pledged for the construction of the 969 megawatt Neelum-Jhelum hydropower project in Azad Jammu and Kashmir, a parliamentary panel was informed on Friday.
The ADF provides development aid to developing countries in the form of concessionary loans and grants on behalf of the Abu Dhabi government.
“The loan agreement of $100 million is pending with the ADF because it has linked it to the resolution of payment issue with Etisalat in the PTCL privatisation process,” Lt Gen (R) Muhammad Zubair, the managing director of Neelum-Jhelum hydropower company, told the National Assembly Standing Committee on Economic Affairs Division.
Zubair informed the committee, which met under the chairmanship of Pirzada Imran Ahmed Shah, that the loan agreement of $448 million with Exim Bank China was also pending as China State Council was yet to give the go-ahead.
Financial constraints were further delaying the project that was supposed to be completed by 2016, he said.
“The Neelum Jhelum Hydropower Company has not been able to open Letter of Credit (LC) to procure equipment and material for the project against financing of $113 million by Islamic Development Bank (IDB) and this issue has been taken up with the company board,” he added.

 

[A.Rafay]

WIND AND BIOGAS Energy In PAKISTAN- PROJECTS AND NEWS

 

[A.Rafay]

Pakistan Council of Renewable Energy Technologies
Alternative Energy Development Board
National Energy Conservation Centre (ENERCON)

 

[Safriz]

THIS is in response to Murtaza Haider’s blog, ‘From Thar coal to utility poles: power politics in Pakistan’ (Dawn.com, Sept 19). The writer has rightly argued that — though Thar coal reserves were
discovered in 1991 — more than 20 years hence not much electricity
has been generated from the estimated 175bn tonnes of coal reserves. Thar coal is one of the largest reserves around the world. In spite of
this, we haven’t transformed this coal into a useful entity. We reportedly produce only one per cent of electricity from coal
whereas others such as the US, China and India, according to an IEA
report in 2010, produce 49 per cent, 79 per cent and 69 per cent of
electricity, respectively. Some years ago feasibility reports of international companies such as
Sino-Coal (China), SRK (United Kingdom) and RWE (Germany) concluded
that Thar coal is economically and technically viable, and it can be used
for electricity generation. Now Pakistan is facing an energy crisis which we can overcome by
producing electricity from coal. When the PPP-led coalition
government came to power in 2008, it decided to exploit Thar coal to
overcome the energy crisis. Dr Samar Mubarakmand was given the assignment to initiate,
experimentally, 10 MW power plant based on underground coal
gasification. Nearly Rs900m was released. His experiment did not work and finally
the project failed miserably. It is a fact that electricity production based
on underground coal gasification is not done anywhere in the world. It is mostly confined to the experimental projects. After the
underground coal gasification failure our government has taken the
decision to close the project. Chaudhry Ahmed Mukhtar, minister for power and water, said: “Samar
Mubarakmand has not given any breakthrough so far”. The Planning Commission has also termed the project ‘unfeasible’. If
the government already knew that there were no chances of
breakthrough and the project was unfeasible, it should not have
wasted Rs900m of taxpayers’ money. Now the government has decided to import coal for electricity
production. For this nearly one billion dollars will be allocated. I wonder why has the government decided to import coal when it has
already a huge coal reserve? The authorities concerned should look into the matter instead of
importing coal. Thar coal should be explored. This way we can save much money and also provide jobs to thousands
of local people.

 

[A.Rafay]

Govt decides to design new power plants on Thar coal specifications

* PM says govt has laid foundation of an energy policy which is based on indigenous resources and will lead to savings of huge foreign exchange
ISLAMABAD: The government on Wednesday decided that in future only Thar coal would be used for coal-based power generation and all conversions of existing and construction of new power projects would be designed on Thar coal specifications.
This policy decision was taken by Prime Minister Raja Pervez Ashraf while chairing a meeting of Thar Coal and Energy Board at the Prime Minister’s Secretariat. The meeting was informed that SECMC and Engro Corporation are working on an integrated coalmine and power project with an estimated cost of $1.3 billion at block 2 of the project for mining of 6.5 million tonnes per annum and a power plant of 1200MW.
The prime minister also decided to provide sovereign guarantee to the Sindh Engro Coalmining Company (SECMC), a joint venture of the Sindh government and Engro Power Generation and directed the Finance Ministry to arrange necessary sovereign guarantee for the company.
He said, “In the present financial situation, we have little space for providing sovereign guarantees. However, this is a strategic decision which has to be taken for meeting the growing energy requirements of the country.” The Sindh government had requested the federal government that conversion of existing 800MW and new 600MW power plants at Jamshoro should be designed on Thar coal specifications.
Raja directed the Water and Power Ministry to sign within a week, a coal off-take agreement between GENCO and SECMC for the Asian Development Bank-financed conversion of the existing 800MW and new 600MW thermal power project at Jamshoro.
“History will not excuse us if we do not take correct decision in time” said Raja while announcing these decisions. “Today we have laid the foundation of an energy policy which is based on our indigenous resources and will lead to savings of huge foreign exchange which are presently being spent on import of fossil fuel to run our thermal power plants,” the premier said.
Besides, this policy decision will ensure energy security that has been eluding us for such a long time, he added. The PM said that God had blessed Pakistan with sixth largest coal reserves and it is now up to them to utilise these huge deposits for the progress and prosperity of the country by generating affordable electricity.

 

[SHAMK9]

OMV, Eni, PPL ink deed to develop Latif gas field
KARACHI: OMV Pakistan – subisidary of Austria largest company OMV Aktiengesellschaft – and its partners Eni (33.33% interest) and Pakistan Petroleum (33.33% interest) on Thursday signed a lease deed for the development of Latif gas field in Sindh.
Latif field production will contribute around 6,000 barrels of oil equivalent per day to OMV in 2014 and therefore be a key contributor to reaching core country status in Pakistan.
OMV Executive Board Member responsible for exploration and production Jaap Huijskes said, “This is a clear win-win situation. Pakistan receives the confirmed Latif gas reserves at a very low price, even the incremental production will be delivered at prices well below competitive fuels.”
“Nevertheless the new pricing guidelines as per Petroleum Policy 2012 for incremental production provides OMV and joint venture partners with sufficient incentive to make new investments to prove and develop new reserves,” he said on Thursday, adding that on the basis of this new commercial agreement OMV will initiate drilling four development wells immediately instead of two that were committed in the field development plan.
The total cost for development is $142 million. It was planned to commence production from Latif field through Sawan plant in late 2013 with the aim to achieve a plateau production of around 100 million of standard cubic feet per day.
The development will comprise drilling of new wells, and construction of a 50 kilometre pipeline to transport Latif gas to OMV operated Sawan gas plant where Latif gas will be processed and thereafter delivered to customers.
Sawan plant is a state-of-the-art sour gas processing plant which was constructed, and has been operated by OMV since start-up in 2003. Sawan field’s own production is under natural decline which will provide processing capacity for Latif gas production in Sawan plant.
Earlier, Adviser to the Prime Minister on Petroleum and Natural Resources Dr Asim Hussain said that companies operating in the up-stream oil and gas sector should take full advantage of the incentives offered in the Petroleum Policy 2012 .
Published in The Express Tribune, October 5th, 2012.

 

[Introvert]

Germany to help Punjab go solar

LAHORE - A Memorandum of Understanding (MoU) on Solar Energy Project was signed between Punjab Government and Germany’s Solar Power Project Development Firm in Berlin on Saturday.
According to details, the German firm would work on a mega project for generation of solar energy in Punjab. The representatives of Germany’s Solar Power Firm, accompanied by a high-level delegation, would pay a visit to the Punjab in November to launch the solar energy project.
A large business delegation from Germany accompanied by the representatives of German Solar Power Firm would also visit Punjab in November, which would include representatives of well-known energy companies of Germany, and other high-ranking officials.
Terming the signing of Memorandum of Understanding for establishment of solar energy project in collaboration with the German Company in Punjab as a highly welcome step Punjab Chief Minister Muhammad Shahbaz Sharif said that vast opportunities of investment in the solar energy sector exist in Pakistan, especially in Punjab. He called upon German companies to assist Pakistan in finding new and sustainable methods for acquiring energy and said that the German technology is unprecedented in the field of solar energy, throughout the world.
Shahbaz further said that Punjab government would extend maximum facilities and incentives to the German companies as meeting the challenge of energy crisis in an effective manner is the top priority of the Punjab government.
Extending an invitation to the German energy companies for investing in the energy sector of Pakistan, especially Punjab, the chief minister said that large opportunities of electricity generation through coal, hydel and thermal exist in Punjab.
He added that although Pakistan has more than five hundred million tons of coal reserves, its industrial and agricultural production, along with its economy, is getting severely affected due to the energy crisis.
The CM pointed out that the country desperately needs energy and Punjab government desires the German companies to make investment in the solar sector, to meet Pakistan’s energy requirements.

Germany to help Punjab go solar | Pakistan Today | Latest news | Breaking news | Pakistan News | World news | Business | Sport and Multimedia

 

[A.Rafay]

Foreign firms showing interest in renewable energy projects’
‘Foreign firms showing interest in renewable energy projects’
ISLAMABAD: Local as well as foreign companies are keen to invest in domestic renewable alternative energy sector, which has a potential to generate around 143,000 megawatts of electricity, officials said on Sunday.

A senior official of the Alternative Energy Development Board (AEDB) told Business Recorder on the sidelines of the second international exhibition and conference on Alternative Energy and Energy Efficiency arranged by Renewable and Alternative Energy Association of Pakistan (REAP).

He said that the country had vast solar and wind energy resources and the government had embarked upon a project to attract foreign investment to help bridge the demand-supply gap by exploiting alternative energy sources.

He further added that the government was expecting over $2.5 billion investment in the wind energy sector, besides wooing foreign investment in the solar energy sector.

Sources said, at present as many as 11 wind projects with a cumulative capacity of 556MW were in advanced stages of completion and some of these would start supplying electricity by December this year. Others, they said, would be functional by 2013.

An organiser of the exhibition said that last year, some 30 local companies participated in the exhibition, but this year, the number has increased to 85, of which 35 companies were foreign.

He said that Japanese, Chinese and Korean companies had set up their stalls in the exhibition.

Pakistan is currently developing wind power plants in Jhimpir, Gharo, Keti Bandar and Bin Qasim in Sindh.

The government believes this would not only help reduce electricity shortage, but would also help ease the burden of oil imports that cost over $14 billion annually.

The average wind speed in most parts of the world is between 6.2 and 6.9 meters per second (fair category). There are a few places that fall under ‘good’ category where the wind speed is between 7 and 7.3 m/s. However, the wind speed in the Sindh corridor was stronger than the above two categories as it stands in the ‘excellent’ category of 7.5 to 7.7 m/s.

The official said that AEDB had approved the first phase of the New Park Energy, a 400MW wind project, near Port Qasim. With the help of China’s Three Gorges Corporation, a 50MW wind energy plant would be installed at Jhimpir in Sindh by next year. A wind power pilot project has been made operational at Daman-i-Koh in Islamabad .

As per break up, 340,000MW could be generated from wind, 2,900,000MW from Solar, 50,000MW from Hydel (large), 3,100MW from Hydro (Small), 1,800 MW from Bagass cogeneration, 500MW from waste while 550MW could be generated from geothermal power sources. A number of countries have successfully developed renewable energy sources from wind, solar, biomass, geothermal, ocean tides and bio fuels to minimize dependence on fossil fuels.

According to a USAID report, Pakistan has a potential of producing 150,000MW of wind energy, of which only Sindh can produce 40,000MW.

Keeping in view this rich potential, the government planned to achieve electric power of up to 2,500MW by the end of 2015 from wind energy.

Former Prime Minister Yousuf Raza Gilani inaugurated the country’s first-ever wind energy scheme ‘Zorlu Energy Wind Power Project’ with a generation capacity of 50MW in Jhimpir on April 2009. The project is nearly 60 percent complete and will start its trial production this year.

 

[A.Rafay]

Punjab making efforts to solve energy crisis by own resources
LAHORE - Punjab Chief Minister Muhammad Shahbaz Sharif has said that energy road show to be held in Istanbul on 17 October is an important development in the wake of his recent visit to Turkey, and will go a long way in solving energy crisis in Punjab province.
He said that conduct of energy road show is a success of Punjab government and an acknowledgment of the fact that Turkish leadership gives great importance to its friendship with the Punjab government.
The Chief Minister expressed these views during a briefing with regard to energy road show for Punjab in Istanbul, here on Monday. The meeting was attended by Provincial Minister Ch Abdul Ghafoor, Member National Assembly Ahsan Iqbal, Secretaries of Finance, Mines and Energy and officers concerned. Muhammad Shahbaz Sharif said that Punjab has large coal and hydel reserves to generate electricity and Punjab government is making strenuous efforts to solve energy crisis through its own resources. The Chief Minister directed the members of the delegation who will take part in energy road show to give a comprehensive briefing to the Turkish energy companies on the possibilities of investment in Punjab, especially negotiations should be held to make joint investment in energy projects relating to coal and hydel power.
He said that Punjab government would extend all out facilities and incentives to Turkish investors in the province. Muhammad Shahbaz Sharif informed that leading energy companies of Turkey are participating in energy road show for Punjab, which would be inaugurated by Turkish Minister for Energy and Natural Resources.

 

[A.Rafay]

ADB urged to help fight energy crisis

ISLAMABAD: Dr. Abdul Hafeez Shaikh Minister for Finance and Economic Affairs on Thursday asked Asian Development Bank (ADB) to send a review mission on Diamir-Basha dam project.

He stated this during a meeting between Pakistan economic team and Board of Directors of Asian Development Bank (ADB) here at the Ministry of Finance on Thursday.

The Pakistani team was led by Federal Minister for Finance, Dr. Abdul Hafeez Shaikh and Board of Directors of Asian Development Bank (ADB) led by Maurin Sitorus, Executive Director ADB.

The meeting aimed to exchange views on different aspects of Pakistan economy, a statement of the Ministry of Finance issued here said.

Maurin Sitorus, Executive Director ADB remarked that Pakistan is very important and reliable member of ADB.

He appreciated government for assisting in ADB's profile in Pakistan.

He also shared that energy sector and infrastructure reforms are
their focus areas.

Finance Minister Dr.Abdul Hafeez Shaikh gave a detail briefing on the overall national economy including the history of political economy
of Pakistan.

He also showed performance of government from 2008 to date.

Unnder the current democratic government, "we devolved ministries, gave more revenue to provinces in terms of new NFC awards and bring down the inflation to single digit", Finance Minister said.

He added that in the same way, impartial judiciary and free media are also credited to the present government.

Despite many challenges like increasing oil prices, security situation and natural disasters like flood, government remained able to give pace to economic growth.

"We did aggressive austerity measures in terms of controlling federal expenditures and took bold steps to enhance tax revenues",
informed by Finance Minister.

On a question raised by one of ADB member regarding investment in Pakistan, Finance Minister informed the meeting that media is exaggerating issue of declining investment.

"Even some investors exaggerate the intensity of risk they face in doing business here in Pakistan", he remarked.

Hafeez Shaikh highlighted that Pakistan has very liberal investment regime and there are enormous opportunities for investors in the country.

"There are special economic zones throughout the country created for
facilitation for investors. In the same way, we have open and supported investment policies in many special areas like existing project of Thar Coal", he highlighted.

The meeting also discussed specific issues like ADB's involvement in Thar Coal and Bhasha Diamir project.

Finance Minister categorically asked ADB to send a review mission on Diamir Bhasha Project.

This review mission will encourage other donors interested in this project, added by Finance Minister.

Finance Minister also highlighted that all misunderstandings or ambiguities between ADB and government should be settled in order to get early completion of Thar Coal Project. (APP)