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| US may invest $350m in energy sector |
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Sunday, October 25, 2009
By Khalid Mustafa
ISLAMABAD: Washington has hinted at investing $300 to $350 million in the country’s energy sector on a short term basis to bail out Pakistan from the crippling energy crisis. However, during the two-day dialogue no hardcore commitment for any project was made.
“The said investment figures from the US are not yet final, as Secretary of State Hillary Clinton, during her upcoming visit to Pakistan, would announce the US decisions on Pakistan’s energy sector,” said a senior official who was part of the two-day formal energy dialogue between Pakistan and the US that ended here on Saturday.
Delegations from Pakistan and the US met on October 23 and 24 in Islamabad to renew their bilateral dialogue on energy issues. Raja Pervaiz Ashraf, Minister for Water and Power, led the delegation for the government of Pakistan and David L Goldwyn, the Secretary of State’s Coordinator for International Energy Affairs, led the delegation for the United States.
Secretary Water and Power Shahid Rafi, Additional Secretary Zarar Aslam, who is also spokesman of the Ministry of Water and Power, were not available to confirm the information despite many bids by this correspondent to make contact with them.
Sources, meanwhile, confirmed that US has indicated that it would invest $330 to $350 million in private energy sector on short-term basis. To a question the official said that US has declined to invest in public sector power projects such as Guddu and Chichukimalian projects saying it is only interested in private sector project for which conducive policies must be made by Pakistani government.
US assessment mission had also been critical of existing gas policy arguing that gas is being provided to domestic sector at cheaper rates, rather it should be provided first to power sector, and then industrial, commercial and domestic respectively.
“Now this assessment mission will submit its report to Energy Coordination Wing of the office of the Secretary of State to formulate final US strategy as to how Washington should go about helping Pakistan in resolving the energy crisis.”
The official said the visiting US mission has suggested for the Alternate Energy Development Board (AEDB) to visit alternate energy generation facilities in US as it would help develop alternate energy infrastructure in Pakistan.
According to the official, Pakistan was actually advised to explain its areas of energy deficiencies which it did.
However, Minister of Water and Power Raja Pervaiz Ashraf in his remarks in the second day of the meeting stressed the need for sustainable and integrated approach to resolve the energy crisis in Pakistan with the help of US energy experts.
The minister also briefed the US delegation on regional energy cooperation explaining that Pakistan is planning to get electricity from Tajikistan. The minister also urged for a strategy, which ensures provision of electricity at affordable rates particularly for lifeline consumers.
“Pakistan is direly in need of overseas investment in hydropower and coal based projects,” the official quoted the minister as saying in the meeting. Pervaiz Ashraf also divulged in the meeting that Pakistan is considering setting up the Energy Sector Stabilisation Fund to overcome the energy deficiencies.
Meanwhile, after the meeting, Prime Minister Yusuf Raza Gilani in a call-on meeting with US delegation on energy headed by David Goldwyn asked the US to invest in the power sector to help the country confront increasing energy shortage.
Gilani said the government has embarked on a comprehensive strategy encompassing short, medium and long term measures to ensure energy security in the country.
He said under the plan all possible conventional and unconventional resources shall be exploited to address energy crisis in the country.
The prime minister asked the US delegation to invest in up-gradation of the existing power generating units to further enhance the capacity by 440MW to the national grid.
He also urged them to support government’s endeavours towards energy conservation through which an additional saving of 1,000MW can be ensured.
The US delegation confirmed its intent to assist Pakistan in addressing the hardship experienced by all Pakistanis due to energy shortfalls. The United States appreciated Pakistan’s proposals to address the short-term energy shortfalls and pledged to assist in their implementation. They reiterated the interest of numerous US private sector firms in investing in energy projects in Pakistan. The delegations agreed that they would work jointly to ensure progress towards a balanced energy market in Pakistan and to review specific project proposals for increased energy capacity. They agreed to meet again in the spring of 2010.
The Ministries of Water and Power, Petroleum and Natural Resources, Finance, Privatisation, Investment and the Planning Commission as well as Water and Power Development Authority, Pakistan Electric Power Company, Alternative Energy Development Board, Private Power and Infrastructure Board, and the Sindh Thar Coal and Energy Board all contributed to the dialogue.
The US Departments of State, Energy and Commerce, the National Security Council, USAID, the US Trade and Development Agency, and the Federal Energy Regulatory Commission represented the United States.
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ISSN 1563-9479 
