Connect with us

Pakistan

PM Shehbaz asks Turkish investors to expand footprint in renewable energy

Published

on

  • PM says Pakistan to ensure hassle-free investment environment.
  • Turkish investors invited to tap Pakistan’s immense potential.
  • Premier says more Turkish firms eager to invest in Pakistan. 

ISTANBUL: Prime Minister Shehbaz Sharif Saturday called on the Turkish conglomerates to invest in Pakistan’s renewable energy sector as the power-deficient country was in dire need of sustainable sources.

“Turkiye investors are invited to build a solar park that could generate around 10,000 megawatts of energy for the country,” he said speaking to Turkish businessmen at the Pakistan-Turkiye business council meeting in Istanbul.

He said Pakistan paid $27 billion in energy imports in the last fiscal year (2021-22).

“This is an unsustainable amount hence we decided to slash the energy import bill. We rolled out our vision of creating 10,000 MW solar power scheme in Pakistan.” 

“We will fulfil this vision with investment from Turkiye, China, Saudi Arabia, Qatar and UAE,” he said.

He invited Turkish companies to tap the immense trade potential between the two brotherly countries, which he said should also be reflected in bilateral trade and business.

He reassured Turkish investors that Pakistan would provide a hassle-less and red-tape-free environment to Turkish investors.

“His government would no longer tolerate any snags and impediments in the way of investment from foreign investors including the Turkish brothers,” the PM said addressing a Turkiye-Pakistan Business Council meeting.

He said during his meeting with President Recep Tayyip Erdogan, he was informed that more Turkish companies were eager to come to Pakistan.

The PM said it was regrettable that in the past regime the Turkish companies that invested in Pakistan were not paid their dues on time. Similar was the case with the Turkish airlines operating in Pakistan, h added.

PM Sharif said such lethargy and red tape were unacceptable to his government and the people of Pakistan as they had benefited from the Turkish investment and support.

“I want to convey this message to all through you that we are brothers and family and will not tolerate such snags and impediments which hurt our ties,” he said, reassured that his government would remove all the issues and address their genuine issues.

He said to further promote their bilateral trade and business relations, work on the ‘Trade and Goods Agreement’ between the two brotherly countries would be expedited.

He said that they had signed an MoU to enhance the bilateral trade volume up to $5 billion in the next three years.

Turkiye’s annual trade stood at around $250 billion dollars and the trade of goods between Pakistan and Turkiye was hovering around one and a half billion dollars which were peanuts considering the immense potential, he added.

The prime minister stressed that such a scenario did not reflect their exemplary brotherly ties and stressed fully exploring the indefinite potential on both sides.

He said they should make efforts to double this trade volume in the next three years with strong commitment and sincerity of purpose as ‘only hard work and untiring efforts would be key to a wonderful success story.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

Protectors of the Highest Battlefield in the World: The Pakistan Army’s Valiant Position on Siachen Glacier

Published

on

By

Siachen, the highest battleground in the world, is a potent symbol of the bravery, sacrifices, and unwavering resolve of Pakistan Army soldiers who are always prepared to protect their country.

With unmatched tenacity and fortitude, they survive at elevations of 21,000 feet and temperatures as low as -40°C.

With courage and determination, the courageous men of the Pakistan Army spearhead every mission, from saving the lives of those suffering from oxygen shortages to rescuing wounded comrades in avalanche-prone locations.

There is no comparison to the sacrifices made by the Pakistan Army to defend the country’s boundaries.

Continue Reading

Latest News

Session of the National Assembly: Government Prioritising Youth Skill Development: Ch Salik Hussain

Published

on

By

The National Assembly was informed that the government is concentrating on developing the skills of young people in order to meet the demand for skilled workers in other countries. To this end, the government has inked agreements with several countries.

Continue Reading

Latest News

PTA provides a significant update on Pakistan’s Starlink launch.

Published

on

By

Starlink applied for a license on February 24, 2022, and is currently in communication with the new regulatory body, according to a briefing given to the National Assembly Standing Committee on IT, which was chaired by Senator Palwasha Khan, the PTA Chairman.

Starlink needs to register with both the PSB and the Securities and Exchange Commission of Pakistan (SECP) before to starting its satellite services in Pakistan. According to the PTA Chairman, the body will proceed with further actions after the registration procedure is over.

Along with Starlink, Shanghai Space Technology is also making its debut in Pakistan, which should boost internet access and spur technical advancement in the nation.

The Pakistan Telecommunication Authority (PTA) has also made it plain that until it has government approval, it is unable to grant a license to Elon Musk’s satellite internet service, Starlink.

The chairman stated that Starlink has promised to adhere to government regulations and not circumvent the system.

The committee also chose to call a meeting of the Space and Upper Atmosphere Research Commission (SUPARCO) to take up the topic of space technology regulation. Additionally, the committee asked why the PTA is assigning its duties to other groups.

Prior to the launch of Starlink in Pakistan, Elon Musk, the CEO of SPACEX, stated that he was seeking permission from the Pakistani government.

According to information, Pakistani social media user Sanam Jamali and Elon Musk had a discussion on the launch of Starlink in Pakistan on the social media site X (previously Twitter).

Sanam asked Musk to launch Starlink in Pakistan, claiming that it might open the door to a better future by giving people access to the internet and chances to advance.

In response, Musk said that he is awaiting Pakistani official approval to introduce Starlink there. Through a massive network of satellites, SpaceX’s Starlink offers internet services.

Starlink

SpaceX, a private aircraft manufacturer and space transport services provider established by Elon Musk, is the developer of the Starlink satellite internet network. The constellation uses a network of thousands of tiny satellites in low Earth orbit (LEO) to deliver fast, dependable, and worldwide internet connectivity.

The way we access the internet could be completely changed by this cutting-edge technology, particularly in isolated and underdeveloped locations where conventional fiber-optic and cellular networks are scarce or nonexistent.

High-speed internet access with latency as low as 20 ms is what the Starlink constellation is intended to provide; this is on par with or even better than many current fiber-optic networks.

Every Starlink satellite includes a phased array antenna, which enables it to connect with numerous users at once, offering a flexible and high-capacity network. Fast and dependable internet connection is available to users from almost anywhere in the world with Starlink, which is an exciting advancement for digital inclusion and global connectedness.

Continue Reading

Trending