ISLAMABAD, April 25: Jordan’s Shaheen Business and Investment Group has expressed its interest to set up 800-mw thermal power plant in Pakistan on fast track basis and reaffirmed their commitment to invest in various other sectors.

These views were expressed by ex-deputy prime minister and head of the four-member delegation of Jordan Dr Jawad Ananai during a meeting with Federal Minister for Water and Power Liaquat Ali Jatoi here on Tuesday.

Dr Anani said that the group had planned to complete the project by June 2008. He said that due to good economic policies of the government of Pakistan the group was also interested in other energy sector projects and needed full cooperation in this regard.

Liaquat Ali Jatoi while welcoming the delegation said that the economy of Pakistan had made significant progress over the last few years. “Pakistan is witnessing massive upsurge in economic activity, not seen before in many decades.”

The confidence of the domestic as well foreign investors was gaining new heights on the back of a stable macroeconomic environment, the minister said.

“The economy is now more stable, economic policies are transparent and predictable, confidence of the private sector is restored to a larger extent; expatriate Pakistanis are bringing their capital back; stock market is buoyant and Pakistan’s credit rating in international capital markets has significantly improved,” he explained.

He also stated that private power producers were getting high returns on their investment and Pakistan was a safe and secure place for investment coupled with a number of incentive and streamlined procedures.

He also assured that Ministry of Water and Power and the PPIB would provide all the assistance and their proposal would be processed on top priority basis.

Dr Ananai also thanked the minister for extending full cooperation regarding their proposal for setting up of power project in Pakistan.