Mr. Wilbur Ross, US Secretary of Commerce called on Federal Minister for Energy, Mr Omar Ayub Khan and Special Assistant to Prime Minister on Petroleum Mr Nadeem Babar at the Ministry of Energy today. Federal Secretary of Power Division and Petroleum Division also attended the meeting.
Mr Ross is leading a US Trade delegation to Pakistan that is focusing on methods to elevate trade and commercial ties between Pakistan and the United States.
The Federal Minister for Energy, Mr Omar Ayub Khan extended a cordial welcome to the US Secretary of Commerce and the visting US delegates. He gave an overview of Pakistan’s Energy Sector and the present Government’s earnest endeavours in reforming the energy sector of the country. These efforts are being personally overseen by the Prime Minister of Pakistan himself. Mr Omar Ayub Khan called for greater US investments in Energy sector including areas such power generation, transmission and distribution, Artificial Intelligence, Renewable Energy, Hydel Energy and training opportunities. The Minister also reaffirmed Pakistan’s commitment to cleaner fuels and green energy. Mr Omar Ayub also said that Pakistan’s Energy Mix would be diversified by injecting more hydel and renewable sources in the national grid. The Minister foresaw the share to increase by 52% by 2025 and 63% by 2030.
The Special Assistant to Prime Minister on Petroleum, Mr Nadeem Babar informed the visiting side on key actions taken to improve ease of doing business in Pakistan. SAPM also shared how more US investments could be incremental in improving the business relations between both the US and Pakistan. Mr Nadeem Babar welcomed the re-entry of ExxonMobil to the Pakistani market. Mr. Babar termed it as a favourable development that could, hopefully, lead more US companies to follow suit. Mr Nadeem Babar commented that Pakistan offers exciting opportunities in infrastructure development, exploration and production sectors too.
Mr Wilbur Ross said his visit to Pakistan is part of the US Government’s desire to increase trade links with Pakistan. He also believed that such links between both the counties would not only enhance trade but encourage further expansion of ties in all fields. Both the sides agreed to step up cooperation in the energy sector.