Minister for Power, Omar Ayub has said generation of electricity from solar and wind projects would get a boost with new alternative energy development policy.
Talking to APP, he said, the wind and solar projects will help reduce the rate of electricity to six rupees per unit and saving of precious foreign exchange reserves, presently spent on fuel import.
The Minister said all stakeholders including provinces have agreed on the policy and its implementation would be undertaken by a steering committee at the federal level.
The provinces would also provide land for the solar and wind projects.
He said Japan, the United States, China and Denmark would invest 70 million dollars in projects of 500 megawatts while Saudi Arabia would also bring an investment of four billion dollars for building a power plant in Balochistan.
The investment would give impetus to the industrial sector and create job opportunities.