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Jul16
Azad Jammu & Kashmir attracts investors for investing in power projects
Mehdi Hassan July 16, 2008
Know More: Pakistan Pakistan electricity crisis, Pakistan hydro power project, Pakistan power crisis, Pakistan power shortage
In order to fill the gap between the demand and supply of electricity in Pakistan, Azad Jammu & Kashmir invited foreign investments worth $40 billion in the hydel energy sector. Currently, Pakistan is suffering from 4000 MW of electricity shortage. Sardar Attique Ahmed Khan, Prime Minister, Azad Jammu & Kashmir, said that Pakistan has a shortage of 4000 MW and Azad Kashmir has the potential to generate 17,000 MW of electricity. Mr. Attique said that his government had formulated a policy under which no sales tax would be collected for ten years on foreign investments in different energy sectors like hydel, solar, wind mill, bio-diesel, fuel-cell etc.

Business Recorder reports:  

 

"We have the intention not only to provide electricity to Pakistan but also sell out the surplus to other regional countries like India," he added. The AJK Prime Minister said the investors would get the 10-years sales tax exemption even on the bio-products. The investment-based policy, he said, would also create employment opportunities in AJK, which would ultimately help the government alleviate the menace of poverty in the region.

 

A river in Pakistan 

Mr. Attique said that already he has started getting response from various foreign investors. A Donors’ Conference will be held in August where the subject will be discussed.

 

Related article:

Business Recorder

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