ISLAMABAD: Minister for Planning, Development and Reform Ahsan Iqbal on Thursday expressed hope that the Karachi Circular Railway (KCR) project would start early and called it a ‘flagship project of economic cooperation’ between Pakistan and Japan.

He said this during a meeting with Ambassador of Japan, Hiroshi Inomata to discuss prospects of economic cooperation between the two countries.

Ambassador Inomata told the planning minister that Japanese companies were willing to invest in Pakistan’s energy sector and infrastructure projects to give impetus to the country’s economic growth.

Mr Iqbal informed the Japanese envoy that Pakistan was focusing on generating cheaper electricity by harnessing alternative means of producing energy since thermal was too costly to be afforded.

Pakistan wants to revert to its traditional energy mix, in which 70pc reliance is on hydel and coal compared with just 30pc presently.

“We are working on solar and wind power plants as they can quickly contribute to national grid.

In the medium to long term, Pakistan is committed to build coal-fired, nuclear and hydro power plants to meet the growing needs of its economy,” he informed the Japanese envoy.