Pakistan, China agree on collaborative energy solutions

Finance Minister Muhammad Aurangzeb has emphasized the significance of collaboration between Pakistani and Chinese companies in advancing sustainable and efficient energy solutions.

He was talking to the delegation of Port Qasim Electric Power Company, which was led by President of Power China Resources Yang Tianyu in Islamabad today.

The Finance Minister reiterated the government’s unwavering commitment to bolstering the energy sector and expressed confidence in Port Qasim Electric Power Company’s significant role in meeting Pakistan’s energy demands.

The meeting focused on various matters related to the power sector, including the payments to the energy producers and possible ways to resolve the issues hindering timely payments.

The Chinese side was informed that the government is taking a number of steps to facilitate this transition including the launch of a railway line to ensure smooth and effective transformation of local coal.

The Finance Minister also briefed the delegation on the structural reforms being undertaken by the government, particularly in the energy sector, and the ongoing privatization of power supply companies and state-owned enterprises.

Muhammad Aurangzeb assured the delegation of the government’s steadfast commitment to providing all necessary support and taking swift action to overcome any challenges impeding the operation of these power plants.

The Finance Minister reaffirmed the government’s full commitment to honoring all obligations, particularly in government-to-government projects, and maintaining the sanctity of contracts in both letter and spirit.

He expressed confidence that, through mutual understanding and cooperation, both sides could develop sustainable solutions to the core issues facing the power sector, ensuring its long-term viability.

The meeting concluded with an agreement to establish a working group comprising members from PQEPC, the Power Division, and the Finance Division. This group will monitor progress on a day-to-day basis to ensure timely and effective implementation of the agreed-upon initiatives.