ISLAMABAD:Pakistan and the United States have agreed to develop a roadmap for pursuing new businesses in green and renewable energy sector both in public and private sector.
This understanding was reached during a meeting between Minister of State for Petroleum Musadik Masood Malik with Regional Director for Indo-Pacific for US Trade and Development Agency Verinda Fike with delegations in Washington.
The US side would provide financial and technical expertise for undertaking feasibility studies for mutually agreed projects, according to a Radio Pakistan’s report. A delegation of Pakistani businessmen would be visiting the United States along their counterparts from Malaysia, Indonesia and Thailand to study methane abatement technologies and conversion of bio-methane into fertilizers during the first quarter of the next year.
During the meeting US Country Manager for the Indo-Pacific Region at USTDA Tanvi Madhusudanan was also present. The two sides discussed in detail ways and means to enhance productivity in the energy sector and plugging Pakistan into global value chain through innovative technologies and creative business models.
Various ideas surrounding ensure energy security, affordability and sustainability in wake of various challenges including the phenomenon of erratic climate change and its socio-economic impact on Pakistan. The US side showed great interest in pursuing projects related to green ammonia, green hydrogen and renewables in Pakistan.
The Minister reiterated that Pakistan in collaboration with the US would like to trail blaze the transition towards clean and green energy in the developing world. The Minister invited US side to visit Pakistan at the earliest to explore possibility of undertaking joint ventures and projects in energy sector including exploration and tapping of its onshore and offshore energy assets. He assured that his office would serve as facilitator for US investors for expeditious implementation of new business ideas. He said Red tapism would be turned into red carpet.