The Special Investment Facilitation Council has made notable achievements in Pakistan’s Energy Sector, marking a year of substantial improvement.
Pakistan has achieved significant progress in its energy infrastructure, including the successful implementation of a 1 MW Solar Project in Gilgit-Baltistan and a substantial 150 MW Project in Sukkur. These installations have greatly increased the country’s capacity for renewable energy.
SIFC implemented proactive efforts by establishing an anti-theft task team, resulting in the recovery of around 95 billion rupees since its establishment in September of last year.
Sinotec Solar, a major Chinese company, has announced its intention to construct a state-of-the-art 3 GW Solar Panel Manufacturing Plant in Karachi. The objective of this program is to enhance Pakistan’s capacity in renewable energy and promote the manufacturing of industrial batteries and electric vehicles.
In addition, a memorandum of understanding was signed to transform an existing thermal power plant into a 300 MW solar facility. This initiative has attracted $200 million in foreign direct investment and is expected to result in substantial reductions in electricity generation expenses.
SIFC’s groundbreaking ‘Brownfield Oil Refinery Policy’ successfully addressed regulatory obstacles, resulting in the mobilization of 5 to 6 billion dollars in investments for Pakistan’s refining industry.
Mari Petroleum Company Limited has made notable achievements in the field of oil and gas exploration, contributing to the efficient usage of Pakistan’s natural resources.
SIFC’s goal for 2031 is to decrease Pakistan’s reliance on traditional energy sources by advocating for other options, including hydropower, solar power, wind power, and RLNG.
