ISLAMABAD: The United Arab Emirates (UAE) will develop renewable energy projects in Pakistan, as Prime Minister Shehbaz Sharif urged more companies to exploit the country’s potential in the alternative energy sector.
The two countries signed a memorandum of understanding (MoU) in a ceremony attended by Prime Minister Shehbaz Sharif and UAE Minister for Industries and Technologies Sultan Al Jaber.
Power Division Secretary Rashid Mahmood Langrial and UAE Ministry of Energy and Infrastructure Under-secretary Sharif al Olama signed the MoU.
Addressing the ceremony, the Prime Minsiter said alternative energy projects are an opportunity for bilateral cooperation and his government plans to generate 10,000 megawatts of solar energy.
The prime minister said his government was ready to give a detailed presentation to the UAE firms on Pakistan’s potential and his government’s policies on alternative energy resources.
He vowed to “make all-out efforts to convert the MoU into an agreement and its swift realization”.
The prime minister also thanked the UAE for inviting Pakistan to the COP28 to be held in the Emirates by the end of this year.
He particularly thanked UAE President Mohammed bin Zayed Al Nahyan for the valuable and timely support to Pakistan, particularly during the delay in reaching an agreement with the International Monetary Fund.
The cooperation from the UAE, China and Saudi Arabia played a key role in sealing the IMF deal.
In his remarks, the UAE energy minister, Al Jaber, said both countries enjoyed great relations and partnership as the UAE always emphasized the importance of cooperation and identifying new ways to strengthen bilateral ties.
He assured that being the host of COP28, the UAE would ensure the development of an action plan and create a deep understanding of climate change-related issues as well as the Loss and Damage Fund.
Separately, the prime minister laid foundation-stones of three mega projects, estimating over Rs 24 billion, to connect Khyber Pakhtunkhwa’s Torghar district with the Buner district.
The projects included a 25km inter-district road from Torghar to Buner, 1km Karakar Tunnel in Buner and one Reinforced Cement Concrete (RCC) bridge on the Indus River.
During a briefing on the occasion, the prime minister was informed that the inter-district road would be constructed at an estimated cost of Rs 4.72 billion and ensure swift travelling and movement of the locals. It will also promote tourism and trade in the Hazara and Malakand divisions of KP.
The 1km Karakar Tunnel would cost around Rs 9.58 billion and reduce the travelling distance between the Torghar and Buner districts by 11km. The tunnel would be linked with the Swat Motorway. The RCC bridge was to be built at an estimated cost of Rs 9.96 billion and reduce travelling distance by 250km.
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