Chief Editor: Ansar Mahmood Bhatti

“Renewable energy can reduce cost of doing business: Shahid Saleem

ISLAMABAD, AUG 17 (DNA) -The renewable energy would bring manifold benefits to the national economy as it would reduce cost of doing business, promote industrialization, encourage investment, and create plenty of new jobs and enhancing exports.Green energy sources like wind and solar were getting key focus on the global level as they were viable sources of energy at affordable cost.The Rawalpindi Chamber of Commerce and Industry (RCCI) president Malik Shahid Saleem in a statement has stressed upon the government to focus on renewable energy as the country has tremendous potential to generate power through wind, hydro and solar.

He demanded that Government must reduce taxes and duties on import of Solar Panel and added that new conditions for import of solar panels which include PSQCA certificate, PSI certificate, certificate of conformance from exporting country, test report and accreditation certificate will increase the cost of doing business.

The government could reduce its reliance on expensive power plants and fossil fuel imports in favour of cleaner, more accessible electricity for people and businesses, he suggested.

He also referred to the Institute for Energy Economics and Financial Analysis (IEEFA) report where it stated that Pakistan’s current power mix has an over-reliance on outdated fossil fuels technology and seasonal hydro-power generation, roughly split in a ratio of 70:20:10, being 70pc thermal and 20pc hydro, with nuclear power making up most of the rest.

Malik Shahid Saleem asked Government to adopt IEEFA’s proposed energy model to 2030, aimed at providing a cheaper, more diversified electricity generation system for Pakistan and therefore greater energy security, is roughly split in a ratio of 30:30:30:10 between 30pc renewables, 30pc thermal, 30pc hydro, and 10pc nuclear power.=DNA

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