CASA 1000 PROJECT TO REDRESS POWER SHORTAGE IN PAKISTAN, PRIME MINISTER
January 12, 2017
H.E. Kojoshev Arzybek Orozbekovich, Minister of Economy of the Kyrgyz Republic along with delegation called on Prime Minister Muhammad Nawaz Sharif at PM House Islamabad today.
Prime Minister while warmly welcoming the Kyrgyz delegation to Pakistan said that Pakistan appreciates Kyrgyzstan government’s progressive policies. The people of Pakistan are happy to witness the progress and development of the Republic of Kyrgyzstan, said the PM.
PM informed the delegation that Pakistan economy’s growth rate has been above 4.84% during last three years and it now offers great investment opportunities for foreign investors. Pakistan has embarked upon a major reform program that aims at fiscal stabilization, mobilizing domestic resources, phasing out subsides, restructuring the power sector and other public sector enterprises and strengthening the social safety nets, stated the PM.
Prime Minister said that promotion of regional connectivity is one of the seven pillars of the Pakistan Government’s development strategy and the government is actively pursuing this initiative which has the potential to integrate South Asia, China and Central Asia–the three engines of growth in Asia.
While commenting on bilateral matters, the Prime Minister said that both Kyrgyzstan and Pakistan are members of Central Asia Regional Economic Cooperation (CAREC) and jointly they can achieve the goals of CAREC in the four priority areas including Transport, Energy, and Trade Policy & Facilitation to alleviate poverty in the region.
“The role of CASA 1000 is important in redressing the power shortages in Pakistan. The project is moving satisfactorily and the recent meeting of Joint Working Group held in Dubai from 5th to 8th December, 2016, took some important decisions which will ensure the project’s timely completion”, apprised the PM.
Prime Minister emphasized that the present volume of total trade between the two countries can be further enhanced and hoped that the third session of
Pak-Kyrgyzstan JMC would prove fruitful in enhancing bilateral trade & economic relationships.
It is worth mentioning that Pakistan – Kyrgystan Joint Ministerial Commission (JMC) was established in 1994 and the volume of trade between Pakistan and Kyrgyzstan amounted to US $ 5.573 Million from 2011 to 2016.