Pakistan to hold road show to lure Turkish investors in Power Sector

Turkey and Pakistan have agreed to form a technical working group in the energy sector in order to chart out ways for close collaboration in the energy sector. Secretary of the Ministry of Water & Power Mr. Saif Ullah Chatta who was leading a three-member delegation discussed this during his meetings with Turkish officials at Ankara.

 The Pakistan official is visiting Turkey on the instruction of the Prime Minister of Pakistan in order to learn from the Turkish experience in privatization of electricity sector. While Pakistan has plans to privatize hydal projects, Turkey has successfully made 100 % privatization of the power distribution companies and created a multi-buyer and multi-sector electricity market.

 The Pakistani delegation held extensive meeting with Secretary of the Turkish Ministry of Energy & Natural Resources Mr. Metin Kilci who offered to help Pakistan in organizing a road show in Turkey where Pakistan could sensitize Turkish entrepreneurs about the privatization plans and would showcase potential projects in the hydal, coal and renewable energy sector to Turkish investors. Mr. Metin informed that Turkey generated about US$ 50 billion from power sector privatization. He said as a result of privatization, public sector is saving over US $ 10 billion per annum which were earlier losses of the power sector entities. Similarly, line losses were also reduced substantially in the post-privatization era, he added.

Deputy Director General of State Hydraulic Works Mr. Yakup Ba?o?ulu during the meeting informed that Turkish entrepreneurs have great experience in hydal projects and while Turkey will soon utilize its full potential in the hydal sector, Turkish investors shall be interested in such projects in Pakistan.

President of Privatization Administration of the Turkish Prime Ministry Mr. Ahmet Aksu gave an extensive briefing regarding power sector privitization. He also offered to share the relevant legal framework whereby Turkey was successful in privatizing its energy sector.

Ambassador of Pakistan to Turkey Mr. Muhammad Haroon Shaukat, Chief Engineering Advisor of the Ministry of Water & Power Mr. Asjad Imtiaz Ali and Director General of Energy Management at Alternate Energy Development Board Mr. Musaddiq Ahmed Khan Tahirkheli also attended the meetings. The Pakistan delegation will also hold parleys with the executives of Turkish companies in the renewable energy sector in Istanbul to review progress on the ongoing Turkish projects in Pakistan and discuss new initiatives.

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Posted by Nadeem Bajwa on May 1 2014. Filed under Business, Pakistan. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.