Karachi Circular Railway project to become flagship project of economic cooperation between Pakistan and Japan: Ahsan Iqbal

Islamabad, January 09, 2014 (PPI-OT): Japanese Ambassador to Pakistan, Mr. Hiroshai Inomata called on Federal Minister for Planning, Development and Reforms to discuss prospects of economic cooperation between the two friendly countries.

He told the Federal Minister that Japanese companies are willing to invest in Pakistan in energy and infrastructure projects in order to help it kick start its economic growth. He added, “Japanese companies are keen to invest in energy and infrastructure projects”.

On this occasion, Prof. Ahsan Iqbal, Federal Minister for Planning, Development and Reform emphasized upon the early start of Karachi Circular Railway Project as it would be the flagship project of economic cooperation between the two countries.

Prof. Ahsan Iqbal highlighted, “Pakistan is focused on generating cheaper electricity by harnessing alternative means of producing energy, because thermal is too costly to be afforded. Pakistan wants to revert to its traditional energy mix, in which 70% reliance is on hydel and coal compared with just 30% presently.

We are working on solar and wind power plants as they can quickly contribute to national grid. In the medium to long term, Pakistan is committed to build coal-fired, nuclear and hydel power plants to meet the growing needs of its economy”.

The Federal Minister said. “The economic policies of government are attracting attention of global investors and Pakistan with a market of 180 million population offers great opportunities. There is corruption free government which is giving boost to country’s image.”

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