President: (President emphasizes for uninterrupted supply of energy)

ISLAMABAD: President Mamnoon Hussain emphasized that reliable and uninterrupted supply of energy is vital for economic and social development of Pakistan.

He said government was committed to resolve the energy crisis and had launched various power projects in this regard. He was speaking to a delegation of K-Electric headed by its Chairman and Country Head Pakistan of the Abraaj Group Tabish Gauhar here at Aiwan-e-Sadr on Tuesday.

The President said that Pakistan offered the best business and investor friendly policies in the region, adding that Pakistan’s policy trends have been consistent with liberalization, de-regulation and privatization.

He said Pakistan is strategically located to become Asia’s premier trade, energy and transport corridor and urged investors to take advantage of it. He acknowledged efforts of K-Electric for successfully meeting to large extent the challenge of continuous and stable supply of electricity to Karachi city which is the economic hub of the country.

He appreciated the initiative of K-Electric to rehabilitate and upgrade its transmission and grid stations with the state-of-the-art SCADA (Supervisory Control and Data Acquisition) system for real time and online monitoring of the network compatible with the fast growing industrial, commercial, and residential development activities in the city.

He assured of every possible help to the private sector while acknowledging the efforts and contributions of private sector and business community toward attaining goals of economic prosperity and development of the country.

He said government was undertaking various measures to address challenges confronting the business community particularly law and order situation.

The delegation of K-Electric also briefed the President on the future investment plans of K-Electric and Abraaj Group in Pakistan. The President welcomed the investment plans of $ 2 billion by Abraaj Group in the power utility and assured of every possible co-operation in this regard.

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