LAHORE: Korean expertise in generating its own electricity for SME units can help Pakistan bridge the gap between energy demand and supply, said Lahore Chamber of Commerce and Industry (LCCI) Vice President Nasir Saeed while talking to the Pakistan Korea Business Association (Korea Chapter) Chairman Kawang Rip.
He said at present the government is focusing on all possible means of generating electricity, which include thermal, hydel, atomic, solar and wind sources.
The government is encouraging the use of renewable energy solutions to reduce the cost of energy generation, said Saeed, adding that alternatives like waste-to-energy and bio fuels were also under serious consideration.
“Pakistan needs cost effective solutions, which are possible through transfer of technology. We expect that Korea can cooperate with us in this regard.”
The LCCI official said that the success of Korean companies in Pakistan shows that soon the country will outrun others in terms of foreign direct investment.
Saeed urged the Korean experts to prepare a plan and share with LCCI so it could be sent to potential members or companies.
The Ambassador of Korea has already declared Pakistan as a priority destination for investment and business in recent meetings with business community.
Chairman Kawang Rip said that growing countries like Pakistan would have to shift their focus on modern ways of generating their own electricity particularly for SME Units.