Islamabad:
Pakistan needed more than $ 100 billion of investments to change their policy towards renewable energies to achieve a neutral carbon energy sector, climate ministry officials reported the permanent committee of the Senate on Wednesday.
They said that the country required $ 50 billion to achieve a renewable energy objective of 60% by 2030, more investment to reduce emissions by 50%, in addition to $ 18 billion to completely operationalize the National Plan of the Efficiency Authority and conservation conservation (NEECA) -2023-30.
The committee met here with its president Sherry Rehman in the president. The meeting was reported that the support of the Global Environmental Installation (GMEF) and the Green Climate Fund (GCF) would play a crucial role in the implementation of the plans and the achievement of climatic objectives.
The Committee received information about the industries and officials of the Ministry of Production in the Electric Vehicle Policy (EV). The officials said the prime minister had formed a Steering Committee in the EV policy.
During the meeting, the Secretary of Climate Change said that the introduction of EV in public transport was crucial to reduce carbon emissions. He said that transport had the greatest impact on air quality, added that it was currently considered a proposal to subsidize two and three -wheel vehicles.
However, the president pointed out that the contamination of other sources was extending more than vehicular emissions. He also criticized the officials of the Ministry of Industries for lack of preparation. “It is unfortunate that officials do not even know the exact number of local EV manufacturers,” he said.
Rehman asked the officials how they planned to operate EV without a clear strategy. She emphasized that the government could not stop solarization by modifying net measurement regulations. She urged the Ministry of Climate Change to oppose any policy that will discourage solar energy.
The Minister of Energy, Awais Leghari, told the committee that a solar revolution was already underway in the country. He reminded the committee that he had introduced net measurement regulations in 2017 and assured that there was no plan to discourage solarization.
Leghari declared that solar investments were currently recovered within 18 months, but according to the new regulations, this period would extend to four years. He pointed out that the owners of the Solar System sold electricity to RS22 per unit. However, he stressed that the government was buying electricity from solar producers at high costs and selling it to consumers at lower rates.
Senator Zarqa Taimur urged the government to reduce transmission losses and emphasized that the agreements under net measurement should remain unchanged. Leghari warned that if the new regulations were not applied, other consumers would support an additional load of RS103 billion.
Leghari revealed that the Government had left the producers’ direct electricity purchase business. He also revealed that the plans were available to divide the National Transmission Company and Dispator (NTDC) into three entities.
The Minister of Energy confirmed that the conversations with the International Monetary Fund (IMF) were underway for a three -year energy package, and assured that the government had plans to assign electricity to the industries at affordable rates.
Leghari acknowledged that the previous power plants were installed under several policies, but under a new system, future energy plants would be installed through a competitive tender process. He emphasized the need for green finances to support the transition.
According to Leghari, 2,500MW of thermal energy plants had already been removed, and the government was actively working to accelerate change towards green energy. He added that the government was working to remove 200MW electric power plants that required green financing.
Leghari stressed the importance of attracting investments to successfully implement the EV policy. He argued that more load stations would encourage the adoption of EVs. “With more load stations, people will be more inclined to change to electric vehicles,” he said.
The Secretary of Climate Change told the Committee that the State Bank of Pakistan (SBP) was actively working on financing green energy projects. However, Rehman criticized slow progress. “Even after five years, the authorities still say that the State Bank is working on it,” he said.
Senator Sherry Rehman requested loans availability to consumers for transition to EVs. The officials of the Ministry of Climate Change confirmed that the federal government had introduced a special rate for EVS accusation stations.
