Re: Shahbaz Sharif on the Move
23/11/2008
Shahbaz assures Independent Power Producers of power purchase
CM Punjab concludes 2-day visit to Hong Kong
‘American strikes stoking Islamabad-Washington tensions’
HONG KONG: Punjab Chief Minister Mian Muhammad Shahbaz Sharif’s two-day visit culminated here on Saturday with an elaborate meeting with the Independent Power Producers Forum in which he assured full guarantee for purchase of power.
The Chief Minister briefed the power producers about the potential in energy sector in Pakistan and especially in Punjab.
He laid especial emphasis on environment-friendly power generation. Shahbaz Sharif apprised the IPPs of Hong Kong about the present scenario of power generation in Punjab. He informed the participants of the meetings that he held meetings with Chinese side during his 5-day visit to various parts of the country about the possibilities and the very bright prospects of investment in Punjab.
When briefed about the prospects in coal and hydro power generations, the participants evinced keen interest in the newly discovered 235 million metric tonnes coal reserves in Mianwali.
The project to generate electricity from Taunsa Barrage with installation of 100MW power house was also appreciated.
Assuring full cooperation in coal mining and power generation in Punjab, the Chief Minister extended full guarantee to the power producers for purchase of power.
He also informed them of intention to start a 50MW solar energy power project in the province.
Speaking to the local businessmen, representatives of IPPF and visiting delegates present at the meeting, the chief minister invited the Hong Kong power producers to visit Punjab and see investment opportunities available in the province and sign Memorandums of Understanding between the two sides.
Earlier, Shahbaz Sharif held a breakfast meeting in which he received a comprehensive analysis of the world economic situation by Soofian Zuberi, Managing Director, Head of Asia Capital Market, Merrill Lynch Investment Bank, Hong Kong.
The banker apprised Chief Minister of Punjab about the global financial crisis and its impact on different countries, multi-nationals and especially on the Asian and South Asian economies.
He also told Shahbaz Sharif about potential of investment from international fund managers’ perspective and presented proposals how to boost confidence of the international investors in Pakistan’s markets.
The Chief Minister briefed the banker about his incentives to attract foreign investment in infrastructure, power generation, meat processing, development in dairy and IT sectors.
Mian Shahbaz Sharif also called on Professor John Spinks of University of Hong Kong and exchanged views with respect to prospects of collaboration between University of Hong Kong and Government College University Punjab.
Later, during an interview with a French news agency, Shahbaz Sharif called Washington to stop aerial missile strikes on the nation’s soil, as the latest raid killed four more suspected militants.
He said the strikes targeting Qaeda and Taliban militants were only stoking tensions with Washington’s “war on terror” ally.
“This is creating anger in Pakistan. This is creating friction between our two countries,” CM Punjab said.
“I hope there’s no further tension and escalation of friction, but no sovereign country can allow this to happen,” he said. “Pakistan is a sovereign, independent country and our territory, our independence cannot be flouted.”
Sharif said he hoped the incoming administration of US president-elect Barack Obama would stop such strikes and help reduce the current tensions with the Pakistan government of President Asif Ali Zardari.
He said Obama should “disallow his forces to enter Pakistan and engage with Pakistan in a manner where we consult with each other.”
“It is for Pakistan and Pakistanis to deal with this problem within the country,” Sharif said.
He also backed negotiations with militants, as proposed by President Hamid Karzai, if talks resulted in lasting peace.
“If Karzai is negotiating with Taliban and if the Brits are supporting negotiations with Taliban, what is the harm in Pakistan holding talks with them under broad daylight, as long as it results in improvement in the situation?”-Agencies