Saturday, May 10, 2008, Jamadi-ul-Awwal 3, 1429    

Argentina keen to invest in dams, tourism sectors: Ashraf

Observer Report

Islamabad—Ambassador of Argentina to Pakistan , H.E Rodolfo Martin Saravia called on Federal Minister for Water and Power and Tourism, Raja Pervez Ashraf here today and discussed matters of mutual interest especially investment possibilities in water, power and tourism sectors to further strengthen the economic ties between the two countries.
The Minister welcomed the Ambassador and informed about the current energy situation of Pakistan . He said that the new political government of Pakistan is fully determined to facilitate the foreign investors and remove all bottlenecks to promote investment in the water and power sector.
He said that today Pakistan is facing great challenges especially in power sector and need about 4000 to 6000 MW additional power per day to meet the growing demand of electricity. He said that the country is now focusing on hydel and coal power generation and run of river projects. The power sector in Pakistan has great potential and the investment in this sector will be welcomed.
The Ambassador said that they were aware of the energy crisis world over and informed the Minister that his country had great experience in hydel and thermal power generation particularly in construction of dams and offered that his government would provide any possible assistance to Pakistan in this regard. He also offered to invest in the Basha Dam and technical expertise for dam. He also said that the Argentinean investors are also keen in power projects in Chitral and NWFP.
The envoy said that they are also looking possibilities of investment in the areas near Basha dam in tourism point of view. The developed area with all facilities near the dam, Chitral and other beautiful sites will attract the tourist from all over the world. The envoy invited the Minister to visit Argentina to meet the investors and discuss with them the potential investment sectors who are keen to put their money in Pakistan .
The Minister appreciated the interest of the Argentina in the Basha dam and in the tourism sector. He said that their proposal will be welcomed and stated that all the required information will be provided and assured to extend full cooperation in this regard.
While discussing the tourism sector, he said that the government is planning to take effective measures to promote tourism in the country and there is proposal to set up budgeted hotels and motels in the potential sites for the tourists. He said that joint ventures projects to promote tourism will also be welcomed. He said that a plan is also being chalked out to arrange a Day Tour with diplomats and investors to apprise them about the tourism potential in Pakistan.