Pakistan, CAREC states sign 10-point declaration on energy cooperation

[ahlam1399]

TASHKENT: Pakistan was among the nine countries in Central and West Asia, which signed here on Friday a 10-point historic declaration with an aim to accelerate cooperation on energy issues with the pledge to overcome the challenges that the member countries are facing in energy sector.Pakistan was represented here by Additional Secretary Power Division Wasim Akhtar in the first ever ministerial meeting of CAREC (Central Asia Regional Economic Cooperation). Omar Ayub Federal Minister for Energy who was supposed to attend the meeting could not turn up here in the wake of his pressing engagements with IMF mission in Islamabad particularly on the electricity tariff issue.To keep pace with the region’s economic growth and an increasing demand for power, the region will need to double its current power system capacity by 2030. The capacity expansion will require sizable investments, estimated to be about $400 billion in cumulative investments up to 2030.The meeting marks the first time energy ministers from Central and West Asia have come together to discuss common regional energy challenges. Uzbekistan’s Minister for Energy Alisher Sultanov opened the meeting on behalf of the Prime Minister of Uzbekistan Abdulla Aripov. The opening address was delivered by Asian Development Bank (ADB) Vice-President for Private Sector Operations and Public–Private Partnerships Diwakar Gupta. The Energy Minister from Turkey Fatih Dönmez attended the meeting as an observer.According to the press release issued after the ministerial meeting, the declaration sets the region on a faster reform path toward more liberal energy markets with greater private sector participation and investment, increased power connections and exchanges between countries, and a strong commitment to tap renewable energy sources and clean technologies. The group also endorsed a new CAREC Energy Strategy for the next 10 years that will provide the roadmap to reach the region’s goal of a secure energy future. “This is a historic achievement and an important commitment,” said Gupta. “The energy sector drives economic growth in the region, so this unprecedented gathering of energy leaders is very important. Today, they have strengthened their commitment to work together to deliver an electricity supply for the region that is reliable and affordable, develop modern energy markets, and embrace clean energy as a more efficient, sustainable source of power.”http://feeds.feedburner.com/~r/com/cwEr/~4/NXhharEUdA8

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