AM Power Company of Kuwait representative Ross Connelly has met Prime Minister Shaukat Aziz, said an official statement. Connelly apprised the Prime Minister that Am Power Company intends to build 225MW combined cycle power project located at the Sundar Industrial Estate in Punjab province with an estimated cost of $200 Million. He appreciated Pakistan's economic policies and incentives being offered to the foreign investors. Aziz said successful implementation of wide ranging structural reforms and supportive macroeconomic policies have transformed Pakistan's economy into a stable and resurgent one. He said due to the high economic growth and improvement in the living standard of the people demand in the energy and power sectors is growing rapidly. The Prime Minister said that the economic and political stability gained through consistency, continuity and transparency of policies have restored the confidence of investors and Foreign Direct Investments (FDI) resulting in jobs creation and poverty alleviation. He said the economy of the country is growing at an impressive rate of 6-8% per year, the middle class is expanding and improvement in the living standard of the people has created more demand for energy and power which is growing at an impressive rate of 15-20 percent. Aziz said structural reforms in many sectors including banking, capital markets, energy, power and telecom have attracted investment, created jobs and provided better quality services. Alongside the demographic dividends with 60% young population is a very attractive feature for the long term investors, he added. Out of the total population of 160 million, he said, 100 million people are below the age of 25 thus creating future economic activity and opportunity. Due to high demand in the energy and power sector, the Prime Minister proposed that Am Power Company could also explore possibilities of setting up additional power generation projects as well as investments in other related fields like agribusiness, mining and oil & gas exploration.
