PPI Original Text (PPI-OT) – President Federation of Pakistan Chambers of Commerce meet Saudi Deputy Minister for Water and Power

Islamabad, May 22, 2012 (PPI-OT): A 15-member delegation of businessmen from the Federation of Pakistan Chambers of Commerce and Industry under the leadership of Haji Fazal Kadir Khan Sherani, President-FPCCI is currently visiting Saudi Arabia to explore mutual opportunities for trade and investment.

The delegation represents the following sectors of Pakistan’s economy: textiles, readymade garments, leather, pharmaceuticals, construction, auto parts, polypropylene, and food items. On May 19, 2012, the delegation called on Mr. Muhammad Ibrahim al-Saud, the Deputy Minister for Water and Power of the Kingdom of Saudi Arabia at his office in Riyadh.

While explaining the energy situation in Pakistan, the President-FPCCI requested assistance from the Saudi Government in dealing with the energy crisis facing the country. He mentioned that Saudi investors had indicated interest in investing in HUBCO and KESC in the past. Similarly, he said, he would like to see more investments by Saudi Arabia in this sector of Pakistan’s economy.

In this regard, the President-FPCCI invited Mr. al-Saud to visit Pakistan with a delegation of businessmen to explore more opportunities for investment in energy. Mr. al-Saud welcomed the President’s offer and said that he would follow up with Saudi investors on this proposal.

He advised FPCCI to arrange a meeting with the Saudi Investment Bank and the Saudi Development Fund in order to explore the possibility of securing funding for renewable energy projects in Pakistan.

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,
Shahra-e-Firdousi,
Karachi-75600, Pakistan
Tel: 0092-21-35873691, 93-94
Fax: +9221 3587 4332
Email: info@fpcci.com.pk
URL: www.fpcci.com.pk