Over the previous year, Pakistan’s energy sector has made substantial development, according to the Special Investment Facilitation Council (SIFC). The creation of an Anti-Theft Task Force, which has recovered almost 95 billion rupees, and the application of cyclical debt management techniques are notable accomplishments.
Successful solar energy installations have been established in Sukkur (150 MW) and Gilgit-Baltistan (1 MW). Two hydropower projects that would contribute 70 MW to the national grid in Azad Jammu and Kashmir have received financing from the Saudi Fund for Development.
The development of the sector is greatly aided by foreign investments. Sinotec Solar, a Chinese business, intends to establish a 3 GW solar panel production facility in Karachi. In a different project, a thermal power plant will be transformed into a 300 MW solar facility, drawing $200 million in foreign direct investment. Block-1 of Thar Coal has been invested in by Shanghai Electric Group.
The Brownfield Oil Refinery Policy has advanced and could bring in $5–6 billion in capital. Oil refineries in Pakistan are transitioning to Euro-V standards. Mari Petroleum Company Limited finished an appraisal well in the Ghazi formation with success in the exploration sector.
Reducing reliance on conventional energy sources and emphasizing renewable energy sources, such as wind, solar, and hydroelectric power, as well as re-gasified liquefied natural gas (RLNG), are the objectives of SIFC’s Vision 2031.These actions are a part of SIFC’s initiatives to address Pakistan’s energy issue and advance sustainable energy solutions as a means of fostering economic growth.
