August 24, 2006	Thursday	Rajab 28, 1427

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ISLAMABAD, Aug 23: Australia on Wednesday expressed interest to invest in the energy sector particularly in the wind power generation and hydel power projects in Pakistan.

Former Australian prime minister Bob Hawke, heading a three- member trade delegation, expressed this during a meeting with the minister for water and power.

Mr Hawke said that his visit was aimed at exploring opportunities of investment in the area of energy development because some Australian companies were already working in Pakistan.

He appreciated the economic growth and investors friendly policies of the government and informed the minister that the delegation was particularly interested in investment in the energy sector and had selected some sites in Sindh in this regard.

The minister welcomed the Australian offer and assured full support to facilitate the foreign investors. He said as a result of comprehensive reforms in the power sector, Pakistan has gained confidence of the international community to invest in energy sector.

“Now Pakistan has become an attractive place for foreign investors involving sizable foreign direct investment in the country,” the minister said.

He informed the delegation that the growth rate in power was about 12 per cent and they needed to expand it to meet the growing demand of electricity.

Power sector had been reformed with a strong regulator and corporate culture and procedures had been simplified and streamlined to ensure one-window facility. Power sector was a potential sector and 16 IPPS were producing about 6000MW power and getting high rates of return.

Secretary of the ministry, chairman Wapda and other officials were also present on the occasion.