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Saturday, June 15, 2013
Pakistan, China to cooperate on energy, mass transit* Sign MoU for cooperation in fields of energy, mass transit,industrial cities and road sector projects
ISLAMABAD: Pakistan and China on Friday signed a memorandum of understanding for cooperation in the fields of energy, mass transit, industrial cities and road sector projects.
The MoU was signed between the Ministry of Water and Power and China-based NORINCO International, whose delegation headed by its vice president, Wang Yitong, is currently visiting Pakistan. In the presence of Prime Minister Nawaz Sharif, Wang Yitong and Water and Power Secretary Anwar Ahmed Khan signed the MoU. According to the MoU, NORINCO and the government of Pakistan would pursue cooperation in the fields of mass transit, energy projects, specifically solar, in different provinces.
The company would also help the country set up industrial cities along motorways, solar irrigation and road sector projects. The Chinese company undertook to facilitate financial assistance from Chinese government on a fast track basis. Under the terms and conditions of the MoU, Pakistan would utilise financial, technical and managerial expertise of NORINCO International in the aforesaid fields and other such sectors which may be identified from time to time with mutual consent of both the parties.
The Chinese company would try to provide financing and technical support, assistance and services pertaining to the said sectors to Pakistan’s government. The specific mode for implementing the projects would be developed and finalised on the basis of mutual consent between the parties. The MoU would come into force at once and would remain valid till such time as agreed to by the parties.
Among others present during the signing ceremony were Punjab Chief Minister Shahbaz Sharif, Minister for Finance Ishaq Dar, Minister for Water and Power Khawaja Asif and Minister for Planning and Development Ahsan Iqbal.
Meanwhile, a high-level meeting on Friday decided in principle to adopt tangible measures to increase power generation through energy mix and explore alternate resources. The meeting, chaired by Prime Minister Nawaz to review energy situation, underlined the need to reduce theft, rationalise tariff and minimise line losses. Addressing the meeting, the prime minister said that the provinces be taken onboard in the consultative process. He expressed the confidence that with dedication, better management and facilitation of energy sector companies, the situation would improve in the near future.
Nawaz, however, said that options for long-term energy security must be examined and practical steps be taken in this regard. The prime minister also called for examining the possibility of importing energy from neighbouring countries to improve the situation on immediate basis. He also directed special care and maximum relief to the common man. Earlier, the meeting took stock of the overall energy situation and examined ways for its improvement and was informed that a comprehensive strategy for recovery of dues from defaulters has been devised.
Energy experts apprised the meeting about the strategy and implementation of timelines for reduction of load shedding. It was further informed that new comprehensive energy policy which includes short-, medium- and long-term energy plan, would be ready by end of this month as currently consultation is going on with all stakeholders. Also, Prime Minister Nawaz has constituted a four-member committee for restructuring and reforming national flag carrier Pakistan International Airlines. app
Courtesy www.dailytimes.com.pk