Sri Lanka eager to invest in small hydro power plants in Punjab

BusinessSri Lanka eager to invest in small hydro power plants in Punjab

LAHORE, Pakistan: A three member delegation from Sri Lanka visited Punjab Board of Investment and Trade (PBIT) to discuss bilateral trade.

Sri Lankan (SL) Minister for Public Administration and Management Ranjith Bandara headed the delegation comprising Gamini Rathnayaka, CEO of Gal-Oya Plantations and Udyama Kurukularatne. The PBIT Chairman Abdul Basit represented the board, while Tousif Peracha, CEO of Gharibwal Group was also present.

The meeting focused on expanding trade and investment between the two countries.

The delegation stressed upon the benefits of multiple small scale hydro power generation units along the canal system. Gal-Oya is keen to invest in these units allover Punjab.

The SL Minister said that Sri Lanka was meeting 50 percent of its energy needs from such units and Pakistan had one of the largest canal systems in the word so it could benefit greatly.

He added that trade balance between the two countries was 90 percent favorable towards Pakistan as Pakistan’s exports to Sri Lanka being much greater than its imports.

While, Kurukularatne pointed out that the non-trade barriers between the countries were the biggest hurdle in the way of free trade agreement.

The PBIT Basit proposed to enhance the spice trade between the countries as Sri Lanka was one of the biggest consumers of spices in the world.

Both the sides also agreed upon promoting tourism and collaborating in the fields of training and education. It was also decided that Pakistan would send a business delegation to Sri Lanka in the near future and feasibilities would be shared with the Sri Lankan business community.

Source: APP

Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

Must read

Recent News

Interior minister reviews security arrangements of central procession of 9th Muharram in Islamabad

ISLAMABAD, Pakistan: The Federal Interior Minister Mohsin Naqvi visited the central procession of 9th Muharram in Islamabad on Tuesday and reviewed the security arrangements...

Terrorists attack RHC in DI Khan; 2 Pakistan Army Soldiers, 5 Civilians Martyred

RAWALPINDI, Pakistan: Two Pakistan Army Soldiers and five civilians embraced martyrdom in an attack by terrorists on a Rural Health Center (RHC) in Khyber...

Mohsin Naqvi pays tribute to security forces on foiling terrorist attack on Bannu Cantonment

ISLAMABAD, Pakistan: The Federal Interior Minister Mohsin Naqvi has strongly condemned the cowardly terrorist attack on Bannu Cantonment.The interior minister paid rich tribute...

Pakistan strongly condemns terrorist attack in Muscat

ISLAMABAD, Pakistan: Pakistan has strongly condemned the dastardly terrorist attack on Imam Bargah Ali bin Abu Talib in Wadi Kabir in Muscat, Oman that...

Eight soldiers embraced martyrdom in Bannu Cantonment attack

Islamabad, Pakistan: Eight soldiers of the Pakistan Army embraced martyrdom when terrorists came from Afghanistan and attacked Bannu Cantonment in the early hours of...