Pakistan has Huge Potential in Renewable Energy

“Pakistan has a huge potential to grow in the renewable energy sector, particularly in the realm of solar and wind energy. Pakistan’s location as well as imperatives of prudent fiscal management and environmental needs give the country a huge push to tap renewable energy resources”, this was stated by Ling Jianke, Chief Representative of a Chinese SOE, Sinohydro Bureau-7, South Asia. Ling, based in Islamabad, met Pakistan’s Consul General to Chengdu, Muhammad Mudassir Tipu at the Pakistan Mission today.

Ling particularly added that Sinohydro has done study on Pakistan’s renewable sector and one of its key findings is that Sindh is endowed with abundant solar and wind resources. “We are gearing to install a 4000 MW solar project in Sindh and also plan to invest in Jimpir’s wind sector”, emphasized Ling.

“We are waiting for announcement of the renewable energy policy by the Government of Pakistan likely to be announced in April this year. As soon as policy is brought forth, our company will be keen to invest in the renewables”, Ling said. He added that investment in renewables is a very astute move by the Pakistan government as it will save huge expenditure incurred on import of oil in dollar terms and will also incentivize Chinese companies to do business by using currency swap agreement that will allow payment in RMB to the Chinese companies.

Throwing light on Pakistan’s economic potential, Ling maintained that: “Pakistan is a blessed country and has incredible growth prospects. It has very smart population, productive labor force, and cost of business is quite cheap. These are the ingredients that make Pakistan attractive for industrial and manufacturing relocation by the Chinese companies. Pakistan offers very good policy incentives but needs to firmly improve its infrastructure capacity.”

The CG thanked Mr. Ling for visiting Pakistan Mission and briefing about the projects being pursued by Sinohydro Bureau. The CG highlighted PTI government’s key reform measures that were aimed at putting Pakistan on the road to sustainable, durable, and inclusive development. He hoped that the company will continue to invest in Pakistan’s energy, industrial and economic development in a way that will be mutually beneficial to both countries.

The CG also underscored that in recent months there was a very significant increase in number of visas being issued by Pakistan Mission to the Chinese companies and businessmen showing that business activity between Pakistan and Southwest of China was picking up.