Federal Minister for Commerce Jam Kamal Khan has reaffirmed the government’s commitment to facilitating foreign investment during a meeting with a delegation from Korea South-East Power Company (KOEN), which is seeking to advance two hydropower projects in Swat.
The delegation, led by KOEN Chief Executive Officer Kim Min Young, briefed the minister on the company’s investment plans, project progress, financing arrangements and regulatory issues.
KOEN, a state-owned South Korean power company, has been operating in Pakistan since 2011. After completing the 102-megawatt Gulpur Hydropower Project in 2020, it is now developing the 229MW Asrit Kedam and 238MW Kalam Asrit hydropower projects in Swat.
The company said major feasibility studies and regulatory approvals have been completed, with nearly US$1 billion in financing arranged and about US$25 million already invested in project development.
However, it highlighted pending tariff determinations and uncertainty over the projects’ inclusion in the draft Indicative Generation Capacity Expansion Plan (IGCEP) 2025-35.
Jam Kamal Khan welcomed KOEN’s continued confidence in Pakistan and said the government remains committed to providing a stable, transparent and investor-friendly environment for foreign investors.
He assured the delegation that relevant ministries and authorities would work to address the company’s concerns within the existing legal and regulatory framework.
He added that while Pakistan is reviewing its energy needs, future opportunities are expected in green energy, industrial development and data centres.
The KOEN delegation expressed hope that continued engagement with the government would help move the projects forward.-ERMD
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