LAHORE - LCCI Vice President Nasir Saeed has said that Korea can help Pakistan bridge the gap between power demand and supply.

He expressed these views after meeting with chairman of Pakistan Korea Business Association (Korea Chapter) Kawang Rip here at the Lahore Chamber of Commerce & Industry.

Nasir Saeed said that at present, the government of Pakistan is focusing on all the possible means of generating electricity which include sources like thermal, hydel, atomic, solar and wind. He said that the government is also encouraging the use of renewable energy solutions to reduce the cost of energy generation. For that matter, options like waste-to-energy and bio-fuels etc. are also under serious consideration. “Pakistan needs cost effective solutions which can be possible through transfer of technology. We expect that Korea can cooperate with us in this connection,” he said.

“South Korea is the second biggest export destination of Pakistan in East Asia after China. It comes at 13th place among the top importing countries and at 15th place among the top exporting countries for Pakistan around the globe”, the LCCI Vice President said. He said that the way different Korean companies are gaining success in Pakistan that day is not far away when Korea will outclass other countries in terms of foreign direct investment. The Ambassador of Korea has already declared Pakistan as a priority destination for investment and business in recent meetings with business community.

The LCCI Vice President urged the Korean expert to prepare a solid plan and share it with the Lahore Chamber so that it could be sent to potential members/companies. Chairman of Pakistan Korea Business Association (Korea Chapter) Kawang Rip said that growing countries like Pakistan would have to shift their focus on modern ways of generating own electricity particularly for SME units.