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Foreign energy companies and investors are more than welcome in Punjab: Shahbaz Sharif

CM PUNJAB-1Lahore: Punjab Chief Minister Muhammad Shahbaz Sharif has said that national economy, industry, agriculture, education, health and other social sectors have been badly affected due to energy crisis being faced by the country. He said that government is committed to overcome the energy crisis and rid the people of agony of load-shedding. He said that steps are being taken on emergent basis for coping with the problem of energy shortage.

The Chief Minister said that agreements have been made with the local and foreign energy companies and investors for installing new projects of generating energy. He said that Canadian Solar Energy Company has agreed to install 500 MW solar energy projects in Punjab. He said that the first project of 100 MW will be completed in four months whereas 400 MW projects would be completed in two years.

He was talking to a representative delegation of a Canadian Solar Energy Company which met him, here today. Provincial Minister for Energy Sher Ali Khan, Chairman Planning & Development, Secretary Energy, General Manager Canadian Company George Zhang, Senior Director Alfred Fei and other office-bearers were also present on the occasion.

Muhammad Shahbaz Sharif said that vast opportunities of investment are available in energy sector in Punjab and the Canadian investors can benefit from it. He said that special facilities and incentives are being provided to the investors for investment in energy sector. He said that every possible facilities and incentives would be given to the Canadian investors for investing in energy sector.

The Chief Minister said that the interest shown by Canadian Solar Company for setting up 500 MW solar energy projects in Punjab is a welcoming step and a formal agreement would be made with Canadian company for this purpose. He said that Punjab government is working on generating energy through alternative sources as overcoming the shortage of energy is utmost essential for enhancing job opportunities and accelerating pace of industrialization.

Shahbaz Sharif said that Punjab government is speedily working on energy projects by making energy sector its top priority and transparent completion of these projects is being ensured. He said that the government has taken solid measures for conservation of energy. He said that planning has been made to shift government schools and hospitals on solar energy under a phased programme.

Likewise, street lights and traffic signals of big cities are also being converted on solar energy, he added. While giving a briefing to the Chief Minister about the solar energy projects in Punjab, the members of the Canadian Solar Energy Company told that their company is interested in installing 500 MW solar energy projects in the province and the work will be carried out speedily.

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