Pak to offer incentives to foreign firms in nuke field
This will ne an additional incentive to attract foreign investors to build and run atomic power plants in the country.india Updated: Aug 20, 2006 17:26 IST
Pakistan has decided to set up 'designated nuclear power parks' as an additional incentive to attract foreign investors to build and run atomic power plants in the country.
Pakistan's growing energy requirements would be partly met by nuclear power for which it was imperative to provide enhanced facilities and tax concessions to the foreign investors interested in setting up private nuclear power plants, Dawn daily on Sunday quoted an official as saying.
The official pointed out that the setting up of nuclear power plants by foreign investors under the safeguards of International Atomic Energy Agency (IAEA) would address "proliferation concerns" of the US and western countries.
Pakistan's Private Power and Infrastructure Board (PPIB) was being asked to work out fiscal and non-fiscal incentives to attract foreign investment, the official said.
The plans follow an earlier decision by Pakistan to permit foreign companies to build and operate atomic power plants, which was taken after Bush Administration refused to have an agreement with Islamabad on the lines of the Indo-US civilian nuclear deal.
Angry over the US refusal, Pakistan also approached China to build six atomic power plants in addition to the two Beijing has already committed for. Recent reports said Beijing has agreed to build six more 300 mw power plants.
Pakistan however wanted French, US and Japanese companies to invest in its nuclear power sector as they have the capacity to build giant 1000 mw nuclear power plants unlike China, which has the capacity to build more 350 mw plants, according to reports.