Looking at the growing demand of energy, Canada is ready to provide the latest technology to Pakistan’s power sector. I am quoting from the report published in Associated Press of Pakistan:
Canada is ready to equip Pakistan with latest technology in oil/gas and power sectors to overcome the energy shortage being witnessed by the country, said the president Pakistan-Canada Business Council.
The council chief Anwar Merchant speaking at Lahore Chamber of
Commerce and Industry here said there are a number of other sectors for
Joint Ventures could be initiated between the two countries, and observed
that incoming years Pakistan will be a hub of business activities.
In the conference, Mr. Merchant talked about the possibilities of joint venture between the two countries. The rising economic condition of the Pakistanis has interested the Canadian firms to invest in this region. Because of flexible investment policy, Pakistan is a very attractive place for investment. Mr. Merchant said that pharmaceuticals, electrical appliances, food stuff, leather, textiles, engineering goods, agro-based industries, chemicals, fertilizers, mineral and mineral-based industries, oil and gas exploration, telecommunication, seaport development, dams, power generation, education, and health and environment are the possible fields for investment.
A country with healthy economic growth, Pakistan is observing shortage of power. Pakistan has the eighth largest coal deposit in the world but it is situated in inaccessible areas. It is also possible to produce electricity by building dams but due political complexities it would take a long time. According to a report published in People’s Daily Online, in the next two years Pakistan would face a severe energy crisis because of a 50% rise in energy consumption. In 2007, the power shortage has been estimated to be 1000 to 2000 MW and 3000 MW during the current year. Like India, Pakistan also has to spend a large amount of money to import oil. At this moment it would be a wise decision for Pakistan to seek for help from countries like Canada that has better technologies. In addition,
Related articles:
People’s Daily Online
Energy Bulletin
Associated Press of Pakistan
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