Published Date: Dec 4, 2019
Chief Executive Officer Energy Development Board Rana Abdul Jabbar has stated that that new renewable energy policy would be presented before the Council of Common Interests (CCI) on December 11 for approval.
Speaking about the renewable energy reforms in Pakistan here at a seminar organized by Sustainable Development Policy Institute (SDPI) and Engro Energy on Tuesday, he stated the policy aims at increasing renewable energy mix to 20 percent by 2025 and 30 percent by 2030. He said that there is huge potential of renewable energy mix and private sector is also showing interest. He further stated there are projects of 2000 MW of renewable energy- wind, solar, biomass, etc, and majority of them of the private sector.
“We have issued 12 letter of support (LOS) to the private sector and are going for competitive bidding for them," he said and added that 100 letters of interest (LOI) reflect confident of the investors.
He added that new policy offers potential for manufacturing of equipments as well. Private sector representatives acknowledged that policy was prepared after a series of rounds of consultation with all the stakeholders and targets set in it are achievable; however, there is need of demand creation.
Senator Shibli Faraz who chaired the panel discussion at a local hotel stated that past contracts have compromised future of the country and government is paying huge amount on account of capacity charges.
He said that the energy is very expensive and increase in energy prices contributes to increase in circular debt. He added that the present government is trying to resolve the circular debt issue and aims to bring it to zero by 2020.
The representatives of private energy sector stated that there is a need of developing an integrated energy policy and the government must do something about distribution side which is contributing to circular debt.
They also wanted continuity of policies, protection to agreements and enabling environment and stated that renewable energy is not only price friendly but also environment friendly. Shahab Qadir of Engro Energy stated that his company has been using domestic resources to produce energy and has become the largest company that uses local fuel to produce power and fertilizer.
In his opening remarks at the panel, Abid Qayyum Sulhari stated that participants from 18 countries are attending the sustainable development conference.