Sunday, May 19, 2024

British Companies Interested in Investing in Pakistan’s Energy Sector

The High Commissioner of the United Kingdom in Pakistan, his Excellency Dr. Christian Turner, appealed this morning to Nadeem Babar, SAPM for Petroleum in the Petroleum Division.

In view of Pakistan’s newly promulgated Renewable Energy Policy, SAPM shared the structural reforms being carried out in the energy sector. The government has set an ambitious target of 20 percent renewable energy by 2025 and 30 percent by the end of 2030, he said.

Pakistan will have the cleanest generation mix as a result, with an additional share of 30-40 percent hydropower generation.

SAPM also told the envoy that with the cooperation of some foreign companies, the government is focusing on the assembly and development of wind turbines and solar panels for renewable energy projects here in Pakistan and has also invited British companies to participate in these projects.

The High Commissioner noted that British firms are interested in investing in Pakistan’s energy sector, especially in off-grid solutions and distributed generation systems.

He also suggested that an export credit facility credit line of approximately 1.5 billion remains under-utilized and urged Pakistani ventures to make more use of it.

SAPM welcomed the interest of British companies in investing in Pakistan and confirmed that the government would welcome the investment and participation of British companies in the country’s energy sector.

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