ISLAMABAD, March 22: Pakistan is trying to create an environment conducive to private sector participation in the energy sector, said Adviser to the prime minister on Energy Mukhtar Ahmad.

He was speaking at the conference on “Emerging investment opportunities in the South Asian power sector” in New Delhi, according to a press release issued here by the Islamabad-based Saarc Chamber of Commerce and Industry.

Shri Sushilkumar Shinde, the Indian minister of power inaugurating the conference said, "The countries of South Asia share similar conditions and the power sector is no exception. We need to augment the supply of power and enhance its distribution to rural areas in the entire region."

Mr Samuel Bodman, the US Secretary of Energy presented a special address at the conference. He said, "The governments have a strong role to play and policies supporting regional energy cooperation are needed. Further strengthening of economic growth will require substantial investments in energy," he said.

He also encouraged the concept of renewable energy to decrease dependence on fossil fuels.

Dr Kirit Parikh, member energy, Planning Commission of India said, "We need to exploit existing regional synergies and invest huge amounts to augment the power sector if we want to maintain the current growth rate of South Asia."

He added that a South Asian Energy Centre, if properly developed, could serve as a focal point to develop energy grids in the region."

Habil Khoraklwala, the president of FICCI said, "Saarc member countries have shown interest in regional energy cooperation due to the South Asia energy dialogue between the governments that took place in New Delhi earlier and also because of the consensus of establishing a Saarc energy centre in the region."

The region is faced with the challenge of energy and power security which may be achieved by diversifying traditional energy supplies, promoting additional foreign investment for energy infrastructure development, improving energy efficiency, reforming and privatising energy sectors, building cross-border linkages and promoting and expanding regional energy trade and investment, said Waqar Ahmad, director of the Saarc chamber.