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Pakistan’s solar panel prices are at an all-time low.

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Insiders in the industry revealed that the drastic drop in lithium battery prices globally is the main factor responsible for this price decrease.

The solar energy business has experienced a significant shakeup due to the roughly 50% decline in lithium battery prices over the last year.

Due to importers’ refusal to share the savings with local customers, dry battery prices are mostly unchanged.

The rising demand for net metering has propelled Pakistan’s solar energy industry to spectacular growth since 2023. Numerous customers have shifted to more cost-effective and dependable solar energy options as a result of the nation’s reliance on pricey grid electricity.

Pakistan is well-positioned to maintain its increasing trend in the use of renewable energy sources, as solar kits are now available at historically low prices.

The Power Division denied allegations earlier on April 27 that suggested a set tax on solar energy will be implemented, calling the claims unfounded and deceptive.

According to the Power Division, no such report about the implementation of a fixed tariff on solar energy has been provided to the government.

Explore Further: Solar Solution in Pakistan: Everything You Should Know

The announcement followed reports from sources yesterday that the Central Power Purchasing Agency (CPPA) suggested taxing anyone who use solar panels for home or business use at the federal level.

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Irfan Siddiqui meets with the PM and informs him about the Senate performance of the parliamentary party.

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The head of the Senate’s Foreign Affairs Standing Committee and the PML-N’s parliamentary leader paid Prime Minister Muhammad Shehbaz Sharif a visit in Islamabad.

Senator Irfan Siddiqui gave the Prime Minister an update on the Parliamentary Party’s Senate performance.

Additionally, Senator Irfan Siddiqui gave the Prime Minister an update on the Senate Standing Committee on Foreign Affairs’ performance.

He complimented the Prime Minister on his outstanding efforts to bring Pakistan’s economy back on track and meet its economic objectives.

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SIFC Increases Direct Foreign Investment: Investment in the Energy Sector Rises by 120%

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The Special Investment Facilitation Council is intended to help Pakistan’s energy sector attract $585.6 million in direct foreign investment in 2024–2025. The amount invested at the same time previous year was $266.3 million.

This is a notable 120% rise, mostly due to investments in gas exploration, oil, and power. Such expansion indicates heightened investor confidence and emphasizes the development potential in important areas.

The State Bank reports that foreign investment in other vital industries has increased by 48% to $771 million.

This advancement is a blatant testament to SIFC’s efficient investment procedure and quick project execution.

The purpose of the Special Investment Facilitation Council is to establish Pakistan as an investment hub by aggressively promoting regional trade and investment in the energy sector and other critical industries.

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Discos report losses of Rs239 billion.

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When compared to the same period last year, the data indicates that discos have decreased their losses in the first quarter of the current fiscal year.

The distribution businesses recorded losses of Rs239 billion in the first three months of the current fiscal year, a substantial decrease from the Rs308 billion losses sustained during the same period the previous year.

Additionally, the distribution businesses’ rate of recovery has improved. It has increased to 91% in the first quarter of this year from 84% in the same period last year, indicating success in revenue collection.

Regarding circular debt, the Power division observed a notable change. Last year, between July and October, the circular debt grew by Rs301 billion. Nonetheless, this year’s first four months saw a relatively modest increase in circular debt, totaling about Rs11 billion.

These enhancements show promising developments in the electricity sector’s financial health in Pakistan, where initiatives are being made to accelerate recovery rates and slow the expansion of circular debt.

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