Pakistan hope for Russia’s aid to carrying out energy projects.

23/7 Tass 118

KARACHI, July 23 (Itar-Tass) — Pakistan’s authorities hope for Russia’s aid to carrying out energy projects, chairman of the Committee on Investment Saleem Mandviwalla told journalists.

After the talks with Russian businessmen on Saturday, Mandviwalla said, “The sides agreed that Russia would take part in a series of key energy projects in Pakistan and help the country overcome the protracted economic crisis.”

“A joint Russian-Pakistani investment commission is planning to be set up soon. It will deal with drafting and carrying out energy projects on the territory of Pakistan,” a Russian official said.

“RAO UES Corporation can play the major role in implementing energy projects on the territory of Pakistan while VTB Bank could provide investment assistance,” said Maxim Sergeyev, who represents Russia at the talks in Islamabad.

“The talks with VTB Bank on financial support for energy projects are being held,” Mandviwalla added.

Russia’s Technoexport is studying a possibility to build gas-turbine power plants. The Pakistani authorities expressed readiness to determine discount rates in order to simplify the implementation of projects.

According to independent experts, Pakistan needs energy. Its deficit reaches at least 6,000 mega-watts.

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