ISLAMABAD: Caretaker Minister of Energy Muhammad Ali said that Pakistan has great potential in energy that can reap further benefits.
Addressing the event in connection with the “40 Years of Friendship-Past, Present and Future between Republic of Korea and Pakistan” as chief guest here in Islamabad, the minister underlined the key projects in the energy sector executed with the collaboration of South Korea.
He said that the 215 MW Asrit-Kedam Hydropower Project on the Swat River in Khyber Pakhtunkhwa, likely to be commissioned in 2028, is being developed by the Korea South-East Power highlighted the importance of the cooperation in energy and infrastructure.
Further lauding the collaboration in the energy sector, he underlined the establishment of Mira Power Limited, a subsidiary of Korea Energy, to oversee the design, construction, operation, and maintenance of the 102MW Gulpur Hydropower Plant.
Interim Minister for Energy @magmmz addressing the Pakistan-Korea Diplomatic Relations event as Cheif guest. He highlighted the collaboration in energy projects along with other sectors. He appreciated various investments and collaborations between the two countries. pic.twitter.com/QbBZiexZfL
— Petroleum Division, Ministry of Energy (@Official_PetDiv) October 25, 2023
The minister said that Kot Addu Power Company Ltd., operating at 1600MW, is an example of great collaboration.
Pakistan to Revamp Energy Sector
He said that Pakistan is going towards digital metering, and the transmission sector is going through major reforms to attract tremendous investments in the future. Focusing on renewable energy, the minister said that Pakistan has great potential in Solar and Wind energy.
He said that Pakistan is offering a great opportunity in the exploration field, and Pakistan will be looking at gas pipelines and storage facilities.
Muhammad Ali also highlighted the people-to-people connections between the two countries and said that 12000 Pakistanis live in South Korea and 800 Koreans live in Pakistan.
Minister for Energy @magmmz with the Korean Ambassador @SangpyoSuh and other dignitaries after his address. The event celebrated 40 years of diplomatic relations between the two countries. Minister said that 40 years are just beginning for a future of new combined initiatives. pic.twitter.com/KH7NxU9HSz
— Petroleum Division, Ministry of Energy (@Official_PetDiv) October 25, 2023
Highlighting the collaboration in infrastructure, he said that the partnership between the two nations is beyond diplomacy as in 2019, South Korea inked a framework agreement with Pakistan to provide 500 million dollars in Economic Development Cooperation Fund loans for infrastructure development.
He said that around thirty South Korean companies are currently operating in Pakistan and participating in human, financial, and infrastructure development. In the education sector, the minister hailed the Memorandum of Understanding (MoU) inked in 2022 between Duksung Women University in Seoul, South Korea, and the University of Agriculture Faisalabad.
