Daily Times

Federal Minister for Power Awais Ahmed Khan Leghari Thursday invited Sweden Green Fund to assist Pakistan’s small vehicles conversion into electric technology by providing technical and financial assistance to help support Pakistan’s recent move of record reduction in tariff for EV charging stations.

The Federal Minister put the proposal in a meeting with the Swedish Ambassador in Pakistan Ms Alexandra Berg Von Linde, who called on him here, according to a news release.

While elaborating on the proposal for the conversion of existing fossil fuel vehicles, especially motorcycles, he said that currently there are over 30 million motorcycles in Pakistan. The people in that income group are very good at retiring loans, he added.

He said that the 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, the Power Division is carefully chalking out policies to enable affordable and sustainable electricity for the consumers.

He said, 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 said, “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. The textile sector of Pakistan being one of the Primary exporters to EU, is being focused on making it 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 per cent of Sweden’s energy is produced from renewable resources, showcasing how economic development and green energy can coexist seamlessly.