By Mushtaq Ghumman in Business Recorder, Nov 17, 2023
ISLAMABAD: The United Arab Emirates (UAE) and Pakistan are likely to sign a framework on investment cooperation in the energy sector, specifically in the areas of solar, wind, hydro, and power transmission, sources in the SIFC told Business Recorder.
The pact will be signed during the forthcoming visit of caretaker Prime Minister Anwar ul Haq Kakar. He was due to undertake visit to UAE on November 14, 2023, which could not be materialized due to his engagements……
According to the proposed pact, the purpose of the MoU is to create a framework for investment cooperation in the energy sector, specifically in the areas of solar, wind, hydro, and power transmission between the participants and to facilitate their sharing of technical knowledge, advice, skills and expertise…..
The proposed implementation mechanism suggests that UAE may nominate designated entities and/or individuals(s) for the implementation on this Memorandum or certain aspects thereof. Pakistan may nominate designated entities and/or individuals for the implementation of the Memorandum or certain aspects thereof…..
The Memorandum shall remain in force for a period of two years, and it shall automatically be renewed for a period of two years, unless any of the participants notifies the other Party in writing of its desire to terminate or not to renew this Memorandum…….
https://www.brecorder.com/news/40273770/investment-co-op-in-energy-sector-framework-may-be-signed-during-pms-visit-to-uae
