Govt Plans To Reduce Energy Tariffs Up To Rs12 Per Unit by March 2025!
44 browse
Chinese companies have invested $125 million in the solar power industry of Pakistan to cope with electricity shortage across the country.
Pakistan is revolutionizing the solar power industry, and China is the leading investor.
It is estimated that Pakistan has received international funding of $144 million for solar projects, from which $125 is funded by Chinese companies. The Chinese share in Pakistan’s solar industry is 87%.
Electricity breakdown in Pakistan is a severe problem that severely interrupted the country's growth. Due to economic instability, it has become difficult for Pakistani people to afford high electricity bills and sustain everyday life.
According to sources, the average utilization of solar plants in Pakistan is 19%.
Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) President Moazam Ghurki visited a Chinese delegation to the PCJCCI and shared insights on Pakistan’s solar industry potential and demands.
He projected;
“Pakistan’s solar energy market is expected to record a CAGR (compound annual growth rate) of 2.5% from 2022 to 2027.”
President Moazzam Ghurki also underscored;
“If solar panels are installed on every roof, those who suffer from heat and load-shedding can generate their own electricity at least all day, and if some surplus electricity is generated, they can sell it to the grid.”
A member of the Chinese delegation highlighted that only 19% of the PV panels are being utilized by Pakistan. Comparing it to the Chinese solar power utilization, which is 95%, there are so many opportunities that need to be tapped.
According to the KTrade Securities Solar PV Industry Report,
“Pakistan and China are a perfect match for collaboration on renewable energy (solar PV) as China is a globally known giant in renewable energy technology, while Pakistan needs to move away from thermal for power generation.”
China has expertise in the solar industry and Chinese investment and involvement in Pakistan’s solar power generation is the best possible thing to happen.
Also Read: Pakistan Government Exempt Custom Duty on Solar Panels, Batteries, and Inverters in Budget 2023-24
Chairman Pakistan Tehreek-e-Insaf Imran Khan and Chief Minister Punjab Chaudhry Parvez Elahi held a detailed meeting at the Chief Minister's Office on Monday to discuss the current political situation, development schemes, and solutions to people's proble
Punjab Chief Minister Maryam Nawaz Sharif has launched an ambitious project under the Kissan Package to shift the fuel and electricity operated tube well to solar energy.
The FBR collects around Rs 800 billion per year through electricity bills at the moment, Still, the Power Division hopes to cut it to Rs 300 billion for the sake of making electricity cheaper.
The rising endorsement of solar panels in Pakistan, driven by provincial government programs and increasing energy expenses, is fostering concern over policymakers.
Recent visit of Punjab Chief Minister Maryam Nawaz to China has been regarded as a success where over Rs. 13 billion ( around $50) investments for Punjab have been envisioned, According to Express News.