The current power shortfall in Pakistan reaches up to 6000MW and is estimated to cost the economy more than two percent of GDP each year. With the energy demand growing at about eight percent per annum, it is necessary that other renewable sources are added to the energy mix to prevent further damage.
The government, through various incentives such as exemption from income tax, smoother capital flow and 100 percent equity participation, seeks to increase investment in the renewable energy realm. The government has also approved the net-metering policies for encouraging smaller scale renewable energy investments.
Inam ur Rahman, CEO Reon Energy Limited, says: "Our current energy mix is heavily reliant on oil, natural gas and coal that makes us susceptible to both economic and environmental damages. With renewable energy especially solar and wind present in abundance, such governmental initiatives shall help make our businesses energy independent and secure from energy price volatility."-PR
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