Image Image Image Image Image Image Image Image Image Image Image Image

AfricaMoney | August 23, 2017

Scroll to top

Top

No Comments

Mauritius can benefit from investment opportunities: Pakistan oil minister

Mauritius can benefit from investment opportunities: Pakistan oil minister

Source: http://www.humsa.com

Jam Kamal Khan, Pakistan’s Minister of State for Petroleum and Natural Resources, invited Mauritius to invest in various sectors of the sub-continental nation’s economy, with special thrust on the dynamic energy sector. He underlined that certain emerging sectors are very promising for investors and Mauritius can benefit from leveraging these investment opportunities.

He made these comments at a meeting with Mohammad Rashad Daureeawo, the High Commissioner of Mauritius to Pakistan, on September 20. Jam Kamal Khan said that the government is increasing focusing on opening up the economy for investor participation, for the mutual benefit of the government and investors alike.

He told Daureeawo that several nations have displayed keen interest in investing in the upcoming energy sector of the country.

He elaborated that the government was introducing many new schemes like exploration and production of untapped oil and gas resources, conversion of power generation from furnace oil to the coal and other cheaper fuels, up gradation of existing generation plants to their optimal capacity and improvement in the power transmission system. The surplus power generated from these schemes was expected to help Pakistan to cope with prevailing energy shortages.

He elaborated that the government was introducing many new schemes like exploration and production of untapped oil and gas resources, conversion of power generation from furnace oil to the coal and other cheaper fuels, up gradation of existing generation plants to their optimal capacity and improvement in the power transmission system. The surplus power generated from these schemes was expected to help Pakistan to cope with prevailing energy shortages.

He solicited Mauritius’ support for these schemes and highlighted that the island nation could benefit from the investment opportunities available in Pakistan.

For his part, Daureeawo said that Pakistan and Mauritius have much in common and the two nations can take steps to enhance bilateral trade in maritime and tourism.

He stated that the vision of Mauritius’ Prime Minister Navin Ramgoolam is very supportive of bilateral trade ties in the realm of investment in the energy sector. He expressed the hope that Ramgoolam’s vision and experience will open up even more avenues for the mutual cooperation and bilateral engagement between the two countries.

It may be noted that Mauritius and Pakistan have a Double Tax Avoidance Agreement (DTAA) in place, to encourage indigenous investors to take advantage of business opportunities in the partner nation. Of the total investment abroad carried out by Mauritius in the first quarter of 2013 (January- March 2013) amounting to Rs 612 million, as much as Rs 449 million was channeled to developing economies in Africa and Asia. However, only a relatively small investment of Rs 25 million went to South and East Asia’s share.

Source: Associated Press of Pakistan

Submit a Comment

Directory powered by Business Directory Plugin