Amir Latif Arain
09 May 2023•Update: 09 May 2023
KARACHI, Pakistan
Pakistan and the US have agreed to create a road map for pursuing new ventures in the green and renewable energy sectors.
The agreement was reached at a meeting in Washington between Pakistan's visiting Energy Minister Musadik Masood Malik and Verinda Fike, regional director for the Indo-Pacific for the US Trade and Development Agency (USTDA), said a statement issued by Energy Ministry in Islamabad on Tuesday.
The US will provide financial and technical expertise for feasibility studies for mutually agreed-upon projects in the public and private sectors, the statement added.
During the first quarter of the next year, the statement said, a delegation of Pakistani businessmen will travel to the United States with counterparts from Malaysia, Indonesia, and Thailand to study methane abatement technologies and the conversion of bio-methane into fertilizers.
"The two sides discussed in detail ways and means to enhance productivity in the energy sector and plug Pakistan into the global value chain through innovative technologies and creative business models," it added.
Various ideas for ensuring energy security, affordability, and sustainability in the face of various challenges, including the phenomenon of erratic climate change and its socioeconomic impact on Pakistan, were discussed in the meeting.
"The US side showed great interest in pursuing projects related to green ammonia, green hydrogen and renewables in Pakistan," the statement said.
Malik invited the US side to visit Pakistan at the earliest to explore the possibility of undertaking joint ventures and projects in the energy sector, including exploration and tapping of its onshore and offshore energy assets, it added.
