Pakistan seeks Swedish green fund assistance
Federal Minister for Power Awais Ahmed Khan Leghari has invited Sweden Green Fund to assist in conversion of Pakistan's small vehicles into electric technology by providing technical and financial assistance, which will support Pakistan's recent record reduction in tariffs for electric vehicle (EV) charging stations.
The minister put forward the proposal in a meeting with Swedish Ambassador Alexandra Berg Von Linde on Thursday.
Elaborating on the proposal for the conversion of existing fossil fuel vehicles, especially motorcycles, Leghari said that currently there were over 30 million motorcycles in Pakistan and people falling in that income group had a very good record of retiring loans.
He suggested that the Swedish and EU green fund could consider providing interest-free loans through Pakistani banks, which had put in place a very robust system. Highlighting the current energy mix and the importance of renewable energy, the power minister said that last year 55% of the overall electricity generation in Pakistan came from renewable energy.
"Pakistan is fully committed to promoting renewable energy and in this regard the Power Division is carefully chalking out policies to provide affordable and sustainable electricity to consumers," he stressed. Leghari pointed out that Pakistan was reviewing the Indicative Generation Capacity Expansion Plan (IGCEP) to ensure the integration of energy into the national grid on a least-cost basis in order to optimise the country's energy resources for maximum economic impact.
The ambassador said "seventy five years of diplomatic relations between Pakistan and Sweden were celebrated last year. This reflects the strength and depth of our bilateral ties."
She highlighted that Swedish firms operating in Pakistan were keen on securing green energy supply and Sweden was ready to share expertise and provide technological support. The textile sector of Pakistan, being a primary exporter to the European Union, was focusing on growing its global competitiveness in terms of renewable and sustainable energy, the ambassador said. She underscored Sweden's leadership in renewable energy as it produced 70% of energy from renewable resources, showcasing how economic development and green energy could coexist seamlessly.