The United Arab Emirates and Pakistan have always, in some way or another, worked towards strengthening relations between the two countries. In a latest development, the Gulf country has shown interest in increasing investment in Pakistan’s energy sector, in an attempt to foster economic cooperation between the nations. The same was revealed by the UAE Ambassador in Pakistan, Hamad Obaid Ibrahim Salem Al-Zaabi, during a meeting with Energy Minister Omar Ayub this week, reported The News International.
Ayub also met with the Ambassador of Republic of Czech in Pakistan, Tomas Smetanka. The latter, too expressed a keen interest in exploring the areas of mutual discussion in Pakistan’s energy sector, adding he hoped the Czech companies who plan to visit Pakistan towards the end of March, have valuable input from Pakistanis and find the best opportunities for investment and business in the energy sector. “This will strengthen the bilateral economic relations between the two countries,” said Ayub.
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He added, “The government is fully committed to diversify the outlook of energy market while making it more competitive and efficient,” he said. The minister also weighed in on the indicative generation capacity expansion plan (IGCEP) 2030. Speaking about what it entails, Ayub mentioned, “IGCEP would forge additional renewable capacity i.e. 60 percent power generation from biomass, solar and wind, 30 percent from hydropower, 10 percent each from thermal and nuclear power plants. The government would be offering more new oil and gas blocks by end of this year and it is a part of strategy of the incumbent government to revive E&P activities in the country.”