Total of France shows interest in Pakistan’s energy sector

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Vice President Operations Policy and Country Services, WB called on the Finance Minister

ISLAMABAD, Sep 15 (APP): An investment delegation from Total of France on Thursday met Minister for Finance, Revenue, and Economic Affairs Muhammad Ishaq Dar in Paris and showed deep interest to invest in Pakistan’s energy sector.

Muhammad Ishaq Dar, who is currently on an official visit
to France, accompanied by Dr Miftah Ismail, Minister of State and Chairman Board of Investment, met a high level delegation of Total led by Thierry filnlin, who is also Vice President of Asia Pacific Region, Total and President of Pakistan France Business.

According to a message received here from Paris
the minister asked the delegation to consider investing in the special economic zone where the government of Pakistan would extend all out support in terms of acquiring land and provision of other necessary inputs.

The Finance Minister also identified to them other
areas for investment which included setting up of refineries,
solar power plants, hydel power generation and mineral exploration.

Ishaq Dar asked the delegation to specially reap benefit of
cheap and English speaking and young work force of Pakistan to setup labour intensive industrial facilities as after raise in labor wages in China more and more countries are
considering Pakistan as the next most lucrative destination to setup labour intensive industries.

The Total Delegation expressed their deep interest in
Pakistan and said that Total will send a high level delegation
to Pakistan in April 2017 to explore in detail the investment
opportunities available Pakistan to meet the relevant agencies to discuss business plan and carry out initial studies.

The Minister assured the Total delegation government’s full
support to during their visit in April 2016 and asked Board of
Investment to be the lead department during total’s visit to Pakistan.

Total is the world’s fourth largest oil and gas company
and a world leading solar energy operator through Sun Power.

With operations in more than 130 countries, total employ
over 100,000 employees who are fully committed for better
energy supply. Total is the top tier international oil and gas
company with world class natural gas operator and a global leader in solar energy through Sun Power.

The activities of Total span oil and gas production, refining, petrochemicals and marketing.