Federal Minister for Power, Awais Ahmed Khan Leghari, has extended an invitation to the Swedish Green Fund to assist in converting Pakistan’s small vehicles to electric technology. He seeks both technical and financial support for this initiative, which aligns with Pakistan’s recent success in significantly reducing tariffs for electric vehicle charging stations.
Awais Ahmed Khan Leghari while elaborating about the proposal for conversion of existing fossil fuel vehicles specially motorcycles, said that currently there are over 30 million motorcycles in Pakistan. The people in that income group are very good in retiring loans, he added. He said that Swedish and EU Green fund can consider providing interest free loans for the purpose through Pakistani Banks which have a very robust system in place.
Explaining the current energy mix and importance of renewable energy the Federal Minister informed that last year it remained 55% of overall Power Generation in Pakistan. He said that Pakistan is fully committed to promoting renewable energy in Pakistan and in this regard Power Division is carefully chalking out policies to enable affordable and sustainable electricity for the consumers.
The Minister noted that Pakistan is currently reviewing its Indicative Generation Capacity Expansion Plan (IGCEP) to ensure the integration of energy into the national grid on a least-cost basis, optimizing the country’s energy resources for maximum economic impact.
The Swedish Ambassador, informed that “75 years of diplomatic relations were celebrated between Pakistan and Sweden last year. This reflects the strength and depth of our bilateral ties.”
The Ambassador highlighted that Swedish companies operating in Pakistan are keen on securing a reliable green energy supply and emphasized Sweden’s readiness to share expertise and technological , support to Pakistan in this regard. Textile sector of Pakistan being one of primary exporter to EU, is being focused to make is globally competitive in terms of renewable and sustainable energy, the Ambassador further informed.
She further explained Sweden’s leadership in renewable energy, stating that 70 percent of Sweden’s energy is produced from renewable resources, showcasing how economic development and green energy can coexist seamlessly.
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