The Minster for Water and Power and Defence, Khawaja Muhammad Asif met with the President of OPIC, Ms. Elizabeth Littlefield and USAID Administrator Mr. Rajiv Shah in Washington today. Senior officials from OPIC, USAID and the State Department also attended the meetings.
Minister for Water and Power apprised OPIC’s President about the prospects of investment in Pakistan’s energy sector and government’s investor friendly policies. Elizabeth Littlefield expressed OPIC’s keenness to increase private sector investments in Pakistan to create a mutually beneficial partnership between the two countries. She laid special emphasis on the bright prospects of further investments in the renewable energy sector and said that both countries enjoyed an innate bond of friendship, which needed to be translated into strong economic relationship for the prosperity and economic development of Pakistan. Both sides reviewed the progress on a range of wind energy projects being financed by the U.S. companies. OPIC plans to increase its investment portfolio in Pakistan in various sectors.
Minister for Water and Power and USAID Administrator Rajiv Shah reviewed progress in the ongoing hydroelectric and thermal power projects supported by USAID. Administrator Shah renewed the U.S. commitment to help Pakistan in overcoming energy crisis and appreciated the energy reforms undertaken by the Government. Both sides exchanged views on optimally utilizing USAID’s funding for projects in Pakistan. Dr. Shah said that the U.S. would closely work with all stakeholders including the multilateral donors on projects which could lead to sustainable development of energy and water resources of Pakistan.
January 29, 2014