Growth momentum vital link for economic progress: PM
By Asad Cheema

ISLAMABAD—Prime Minister Shaukat Aziz said that consistent economic growth of over 7 per cent since last five years coupled with increased income level has led to meteoric rise in the demand for energy, which is growing at 10-12 per cent per annum.
He was talking to Vince Harris, Regional Managing Director of International Power Inc, who called on him here at the Prime Minister’s House.
The Prime Minister said that energy security and growth momentum is a vital link for maintaining economic progress of the country. He said that government is working to expedite development of alternate sources of energy to meet the growing demand of power on fast pace as well as to produce cheaper and environment friendly energy in the country.
The Prime Minister said that Pakistan has launched its long-term and short-term energy plans to add an additional capacity of 2000 MW by the end of 2008 to ensure an un-interrupted supply of electricity to meet the growing domestic and industrial needs.
The Prime Minister welcomed the confidence shown by International Power to further invest in the energy sector through formation of Consortium and hoped that this would help bridge the energy gap.
Vince Harris while apprising the Prime Minister of the company profile said that International Power is proud to have successfully invested in Pakistan’s power sector.
The company, he said, is a major investor in Pakistan particularly in power sector since 1995. He said that with significant interest in the Hub Power Company, the Kot Addu Power Company and Uch Power Compan, the International Power is keen to further support investment growth opportunities in these companies to help meet the growingelectricity demand growth in Pakistan.
Harris further informed the Prime Minister that his company is actively responding to the investment friendly policies of the government.
He said that Pakistan is being considered as an attractive destination for investments by most of the investors abroad particularly in the Middle East,Europe and U S A.