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| November 27, 2005 | Sunday | Shawwal 24, 1426 |
Plan to generate 20,000MW power by using coal
ISLAMABAD, Nov 26: To promote exploitation of indigenous energy resources, the government has chalked out a plan to generate 20,000MW power by using coal till 2,019. This was said by Federal Minister for Petroleum and Natural Resources Amanullah Jadoon while speaking at a breakfast meeting hosted by him for the delegates representing world mining industry and financial institutions gathered in London to attend the International Mines and Money-2005 conference.
The minister said that the government had introduced a liberal mining policy for foreign investors, supported by investment- friendly regulatory and fiscal regimes.
“There is no restrictive minerals list for foreign investor or any requirement of mandatory local participation or repatriation of investment and profits,” he added.
Mr Jadoon invited the world mining industry and financial institutions supporting mineral projects to harness opportunities available in Pakistan in metallic and non-metallic minerals, coal, oil and gas for mutual advantage.
He said that Pakistan had an interesting geology which provided strong potential for finding exploration targets which may yield metal mining projects worth billions of dollars.
He said that petroleum and natural resources sector in Pakistan could not be ignored due to its emergence as one of the most prospecting areas for investment owing to attractive incentive and the policies of de-regulation, liberalization and privatization.
Mr Jadoon said that structural geology of Pakistan provided different type of stones having metallic and non-metallic minerals, coal, oil and gas.
“The country has a fast growing economy and has achieved a growth rate of over eight per cent over past two years as a result of prudent fiscal policies.”
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