President links renewable resource of energy with progress

Islamabad: President Dr Arif Alvi stressed the importance of renewable resource of energy for national progress. He was talking to Vice-President of the Government Relations South Asia, Royal Dutch Shell, James Hall, who called on him at Aiwan-e-Sadr here.

The president said that Shell was one of the oldest multinationals in Pakistan and had been present in the South Asian region for over a century. Underlining the importance of renewable resource of energy, he urged the Shell Company to invest in these areas, since it has achieved a major breakthrough in this sector.

The president said the investment policy of Pakistan has been designed to provide a comprehensive framework for creating conducive business environment for the attraction of Foreign Direct Investment (FDI).

He said Pakistan investor’s friendly Investment Policy provided no restriction on remitting capital, profits & dividends. "The government of Pakistan welcomes the interest of Shell in new projects and hopes that the company would keep investing in Pakistan for achievement of mutually beneficial targets of economic development," he said.

“Shell has its footprint in Pakistan since the time of its independence in 1947 and has been privileged to play a vital role in the country’s progress.” James Hall said right from the largest natural gas discovery at Sui in 1952 to the launch of the Retail Visual Identity stations in 1995 that changed the face of fuel retailing in Pakistan, Shell had been a dedicated energy partner in the country.