Islamabad Chamber of Commerce & Industry has expressed extreme disappointment over the cancellation of Pakistan & Regional Energy Conference 2009 which was scheduled to be held at Karachi from October 20-21, 2009.

Zahid Maqbool, President, Islamabad Chamber of Commerce & Industry (ICCI) in a statement said that cancellation of Pakistan & Regional Energy Conference 2009 was not a right decision as it will send a very wrong signal to potential investors & will further strengthen their security concerns about Pakistan.

He said that with substantial energy infrastructure and investments planned by the government of Pakistan, including the development and use of renewable and alternative energy resources, the commercial opportunities for international investors were in plenty in the country.

Zahid Maqbool said energy shortage was the key reason which caused great slump in trade & industrial activities closing many industries and giving rise to unemployment & poverty in the country. Thus it was the high time that government should have gone ahead with its program to hold this Conference so that by properly showcasing its energy potential to regional investors, Pakistan could attract more foreign investment in energy sector, he added.

ICCI President deplored that by canceling the event, Pakistan has squandered a good opportunity of pooling regional investment for its energy requirements. He said the Conference was designed to examine Pakistan’s development of an integrated and diverse energy mix as well as to explore how Pakistan and the wider South Asian region could meet the sharp rise in energy demand and consumption by developing strategic alliances with international partners.