Norwegian investors interested in investing in hydel power, gas sectors

Islamabad, June 08, 2012 (PPI-OT): Norwegian Ambassador to Pakistan Cecilie Landsverk on Friday said investors from his country are interested in hydel power and gas sectors.

Pakistan has great potential to generate electricity by using the natural force of water that must be exploited to full extent, she said.

The Ambassador said that Pakistan has fantastic potential, it can generate 100000 MW through its hydropower resources to overcome energy crisis.

Talking to Vice President FPCCI Mirza Abdul Rehman, Chairman Coordination Atif Akram Sheikh and Chairman Media FPCCI Malik Sohail, she said that optimum utilisation of hydropower potential with the help of international community can tackle power shortfall on sustainable basis

Hydropower is the best way to bridge the gap between electricity generation and consumption which will improve the ratio of low-cost electricity in the system to stabilise the tariff, said Cecilie Landsverk.

She said that Norwegian investors are also interested in promising onshore and offshore gas sectors of Pakistan.

Ms Landsverk advised Pakistani business community to focus on food chains in Norway.

There are great business possibilities here but perception in west about Pakistan is not improving since last few years which is blocking investment, she added.

International business community is more concerned than they should be, she underlined.

At the occasion, Mirza Abdul Rehman asked for cooperation to overcome energy crisis, resume fisheries exports and initiate projects aimed at imparting vocational training to youth.

He said that Norway’s fruit and vegetable chains should visit Pakistan to explore opportunities.

Norwegian designers can help educate our artisans about taste and demand patterns of European countries to boost exports, said Mirza Abdul Rehman.

Mirza Abdul Rehman said that a delegation of FPCCI is to visit Norway to explore opportunities in different sectors including pharmaceutical and surgical sectors.

FPCCI and Norway can join hands to establish vocational centres in Khyber Pakhtoonkhwa and Punjab, said Malik Sohail.

Malik Sohail said that President FPCCI Haji Ghulam Kadir Sherani, and national business leaders Tariq Sayeed and Iftikhar Ali Malik are regards highly Norwegian help in promoting education, health and culture in Pakistan.

Stressing upon the need of expanding bilateral economic and commercial relations Atif Akram Sheikh said that trade could be enhanced through planned visits of businesspersons with the help of two governments and business chambers.

At the occasion, Minister Counsellor Terje Barstad said that Lok Virsa and is one of our most favoured cooperation partners. We want to promote cultural understanding between the nations

He informed that Norway is funding three programmes in Khyber Pakhtoonkhwa while Basic Education Programme II will be launched soon.

For more information, contact:
Syed Masood Alam Rizvi
Secretary General
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Karachi-75600, Pakistan
Tel: 0092-21-35873691, 93-94
Fax: +9221 3587 4332

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