ISLAMABAD: Federal Minister for Power Omar Ayub Khan said the Power Division was working to increase the share of renewable energy in the overall energy mix to 30% by 2030.
In a meeting with Chinese Ambassador Yao Jing on Thursday, Mr Khan said the Power Division was working on renewable energy policy to harness the immense potential in solar, wind and hydel resources existing in Pakistan.
Also, Secretary Power Irfan Ali was also present in the meeting.
He added the Power Division is working to raise the share of renewable energy in the overall energy mix to 20% till the year 2025 from the existing 4% and to 30% till the year 2030 to attract maximum investment.
While acknowledging the important position of CPEC energy projects, the power minister said that these are a symbol of deep-rooted relations between the two countries based on mutual respect.
Mr Khan stated that these relations are further strengthening with each passing day and Power Division is extending all-out support to the Chinese and other investors in the power sector and their various issues are being resolved on a priority basis.
While talking about huge investment potential in the solar panel market, smart meters and other distribution and transmission system equipment including anti-fog insulators in Pakistan, the Federal Minister said that Chinese investors can take full benefit of these opportunities.
The Chinese Ambassador while reiterating China’s commitment to further boost the existing ties between the two countries said that Power Sector has been the prime and most important areas of CPEC.
He said that Chinese investors are closely following Pakistan’s power sector policies and are keen to invest in renewable energy.
The power minister also apprised the Chinese Ambassador on the current anti-theft campaign by the Power Division which is gaining very good results.
Mr Khan also briefed him regarding initiation of smart meter projects in various distribution companies and invited the Chinese investors for manufacturing the same in Pakistan.