Pakistan

PM Shehbaz asks Turkish investors to expand footprint in renewable energy

Published

2 years ago

Farwa

PM says Pakistan to ensure hassle-free investment environment.
Turkish investors invited to tap Pakistan’s immense potential.
Premier says more Turkish firms eager to invest in Pakistan.

ISTANBUL: Prime Minister Shehbaz Sharif Saturday called on the Turkish conglomerates to invest in Pakistan’s renewable energy sector as the power-deficient country was in dire need of sustainable sources.

“Turkiye investors are invited to build a solar park that could generate around 10,000 megawatts of energy for the country,” he said speaking to Turkish businessmen at the Pakistan-Turkiye business council meeting in Istanbul.

He said Pakistan paid $27 billion in energy imports in the last fiscal year (2021-22).

“This is an unsustainable amount hence we decided to slash the energy import bill. We rolled out our vision of creating 10,000 MW solar power scheme in Pakistan.”

“We will fulfil this vision with investment from Turkiye, China, Saudi Arabia, Qatar and UAE,” he said.

He invited Turkish companies to tap the immense trade potential between the two brotherly countries, which he said should also be reflected in bilateral trade and business.

He reassured Turkish investors that Pakistan would provide a hassle-less and red-tape-free environment to Turkish investors.

“His government would no longer tolerate any snags and impediments in the way of investment from foreign investors including the Turkish brothers,” the PM said addressing a Turkiye-Pakistan Business Council meeting.

He said during his meeting with President Recep Tayyip Erdogan, he was informed that more Turkish companies were eager to come to Pakistan.

The PM said it was regrettable that in the past regime the Turkish companies that invested in Pakistan were not paid their dues on time. Similar was the case with the Turkish airlines operating in Pakistan, h added.

PM Sharif said such lethargy and red tape were unacceptable to his government and the people of Pakistan as they had benefited from the Turkish investment and support.

“I want to convey this message to all through you that we are brothers and family and will not tolerate such snags and impediments which hurt our ties,” he said, reassured that his government would remove all the issues and address their genuine issues.

He said to further promote their bilateral trade and business relations, work on the ‘Trade and Goods Agreement’ between the two brotherly countries would be expedited.

He said that they had signed an MoU to enhance the bilateral trade volume up to $5 billion in the next three years.

Turkiye’s annual trade stood at around $250 billion dollars and the trade of goods between Pakistan and Turkiye was hovering around one and a half billion dollars which were peanuts considering the immense potential, he added.

The prime minister stressed that such a scenario did not reflect their exemplary brotherly ties and stressed fully exploring the indefinite potential on both sides.

He said they should make efforts to double this trade volume in the next three years with strong commitment and sincerity of purpose as ‘only hard work and untiring efforts would be key to a wonderful success story.

Latest News

Rainfall throughout the night stops flights in Lahore.

Published

14 hours ago

Farwa

Allama Iqbal International Airport experienced many hours of flight disruption due to the intense rainfall and windstorms that occurred overnight in Lahore, the provincial capital of Punjab.

Aviation sources claim that because of the monsoon weather, the flight operation was unable to operate between 3 and 4 am.

It is possible that the planes will arrive at the airport at 4 am.

Amidst delays in foreign airline flights, three aircraft made landings in Multan and Peshawar.

Riyadh flights arrived in Peshawar Airport, while flights scheduled to land in Lahore in Abu Dhabi and Bahrain ended up landing in Multan Airport.

Seven hours later than scheduled, the Qatar Airways flight from Doha arrived in Lahore.

Because of the bad weather, there are delays in the arrival and departure of numerous international planes.

Latest News

Changes to Pakistan’s Test team could be significant for the Bangladesh series.

Published

14 hours ago

Farwa

Major changes to Pakistan’s team are anticipated ahead of the forthcoming Test series against Bangladesh, sources in Lahore have revealed.

As the team gets ready for the series, meetings with the players are planned for next week.

It is predicted that the Test squad would undergo several changes. The team’s lineup is expected to be strengthened by the likely inclusion of Muhammad Huraira. Key players like Faheem Ashraf, Wasim Jr., Saim Ayub, and Nauman Ali, whose contributions are vital to the team’s success, struggle to get a spot on the squad.

Furthermore, according to sources, Imamul Haq or Sahibzada Farhan are anticipated to be added to the team, subject to additional assessment. Furthermore, following a fitness assessment, Amir Jamal and Hasan Ali’s futures will be determined.

The ultimate selection for the Test team will take place following Red Ball head coach Jason Gillespie’s return to Pakistan. The ultimate squad that will play Bangladesh in the forthcoming Test series will be greatly influenced by his assessments and thoughts.

Pakistan is scheduled to visit New Zealand in March and April of 2025, according to the country’s official cricket schedule, which was released earlier this month.

Throughout their visit, the Pakistan cricket team will play three One Day Internationals (ODIs) and five Twenty20 Internationals (T20Is) in an exciting series.

The T20I series, which starts at Hagley Oval in Christchurch on March 16, will serve as the tour’s opening event.

Latest News

PM Meets With KP Lawmakers: Promises Progression and Relief Efforts in Province

Published

14 hours ago

Farwa

Khyber Pakhtunkhawa lawmakers are given assurances by Prime Minister Shehbaz Sharif regarding the province’s development, namely in the amalgamated districts, with a particular emphasis on the provision of standard health and educational facilities.

Khyber Pakhtunkhwa National and Provincial Assembly members paid a visit to Prime Minister Muhammad Shehbaz Sharif at PM House.

During the meeting, the Prime Minister stated that the PML-N Government has always given priority to the development of the combined districts.

The prime minister promised that the combined Districts would have standard health and educational facilities, and that Danish Schools would be established nearby to offer local pupils an education of the highest caliber possible.

The PM also underlined the importance of promoting solar energy, combating electricity theft, and helping the middle class and impoverished.

He said that in order to boost the agriculture sector’s growth, expand the amount of land under cultivation, and reduce the nation’s reliance on foreign fuel imports, the government was converting agricultural tubewells to solar energy nationwide.

According to PM Shehbaz Sharif, the government recently provided significant reduction from electricity rates for those with low and moderate incomes.

At the event, he also announced the creation of a committee headed by the deputy prime minister, whose goal will be to identify long-term solutions to the issues facing Khyber Pakhtunkhwa’s elected officials.

He argued that in order to preserve the nation from going into default, the current government had to make difficult political choices in order to revitalize the economy.

The parliamentarians gave Prime Minister Shehbaz Sharif high marks for his visionary leadership in transforming Pakistan’s economy.