A British trade delegation Tuesday called on Special Assistant to the Prime Minister (SAPM) on Petroleum Nadeem Babar and acknowledged Pakistan’s improved ease of doing business environment.
The delegation, headed by Her Majesty’s Trade Commissioner Simon Penny, was consisted of Deputy HC Mike Nithavrianakis and Director for Trade at the British High Commission Islamabad Olivia Campbell. Secretary Petroleum, Mian Asad Hayauddin also attended the meeting, a Petroleum Division press release said.
Nadeem Babar welcomed the British delegation and shared key areas of cooperation between the two countries, including general trade of commodities, energy sector, technological manufacturing, manpower, skill, liquidity for small scale production besides robust agricultural productivity.
The SAPM discussed incremental steps taken by the present government to encourage renewable energy including setting practical timelines for renewable energy’s inclusion in the national grid.
He also invited British entrepreneurs to invest in Pakistan’s oil & gas Exploration and Production (E&P) sector, for which three round bidding process was being initiated to award new exploration blocks.
Nadeem Babar drew the attention of Simon Penny towards the presence of about 40 UK E& P companies that were present in Pakistan about a decade ago and how they could benefit of the available opportunities here.
The SAPM hoped that British businessmen and investors would actively participate in the E&P road show, scheduled to be held on London.
Trade Commissioner Simon Penny commended the improved ease of doing business environment in Pakistan. The Britain has recently issued the improved travel advisory for Pakistan, which was the result of “impressive improvement in Pakistan’s security and business climate,” the press release said.
Simon Penny appreciated the proposals and key areas of mutual cooperation identified by the SAPM during the meeting.
Mr. Penny is in Pakistan as part of his visits to Commonwealth member countries to bolster trade ties after United Kingdom’s exit from the European Union.