ISLAMABAD, Feb 17: Pakistan and Malaysia have agreed to investment in power, water, and construction and electricity transmission sectors and to reducing the current trade imbalance between the two countries.

The official discussions in this regard were held here on Thursday between Federal Minister for Water and Power Liaquat Ali Jatoi and the visiting Malaysian delegation headed by Dato's Seri Dr Lim Keng Yaik, Minister for Energy, Water and Communication.

The Malaysian side invited the delegation of Ministry of Water and Power included NPCC and NESPAK to submit their proposals for awarding contracts and signing of MOUs in this regard. The Malaysia also offered Pakistan to participate in international bidding projects to further strengthen economic ties.

The Malaysian Minister stated that the investors from their country were planning to invest in power, agriculture and other potential sectors. He was of the views that both countries enjoys close and friendly relations and underlined the need to enhance trade with Pakistan and will offer development projects in Malaysia to public and private sector of Pakistan.

Earlier, the Minister warmly welcomed the Malaysian delegation and appreciated Malaysian investment in Pakistan. The minister pointed out that there was great potential for foreign investors to make their profitable investment in the power and other sectors.

The minister offers the services of NESPAK and NPCC in the field of planning and construction of large, medium and small dams, development of irrigation network and its proper operation and maintenance, training of engineer in the field of water resources, planning development and management.

The minister offered the Malaysian Minister to participate in international tenders for Uch power project (400 mw), Faisaland power project (450 mw) and Chichuki Mallian (350-400 mw) projects and seven raw h.

He also stressed the need for joint venture projects in various other areas. He also gave a briefing on the investment policies, power policy 2002, and recently simplified procedure for investors in power sector and stated that Pakistan is viable for investment.

The Malaysia side welcomed the offer identified by the minister and showed the interest in power generation. The delegation also discussed the issues relating to Liberty Power Project and asked their early finalization.

Mr Jatoi assured to resolve all the issues on priority basis and directed PPIB to submit details in this regard for taking decision through mutual understanding.