LAHORE                      –                  Minister for Power Dr Akhtar Malik has stated that greater than 7000 faculties in Punjab have been shifted to photo voltaic.

Addressing a gathering on the Lahore Chamber of Commerce & Trade on Monday, he stated that MoUs have been signed with 13 universities to transform to photo voltaic vitality.

LCCI President Irfan Iqbal presided-over the assembly whereas Senior Vice President Ali Hussam Asghar, Vice President Mian Zahid Jawaid Ahmad, former President Sohail Lashari and former Senior Vice President Mian Nauman Kabir additionally spoke on the event.

Government Committee members Aqib Asif, Fiaz Haider, Zeshan Sohail Malik, Nasrullah Mughal and Mian Sheheryar Ali had been additionally current.

“Investors from private sector have been invited to produce electricity through solar that will be purchased by the universities according to their needs”, the minister stated.

He stated that two villages, having 500 homes every, have additionally been shifted to bio-gas and photo voltaic vitality. He stated that two wind energy crops have been established in Joharabad.

He stated that previously governments signed long run agreements to buy electrical energy at excessive tariffs from IPPs.

He stated that some agreements can be accomplished within the 12 months 2023 whereas some can be expired in 2032. New agreements can be re-negotiated after expiry of time period, he stated.

Dr Akhtar Malik stated varied websites have been recognized for mini hydel tasks of 1 MW and above. Whereas inviting the personal sector to spend money on these tasks, he stated that authorities would offer all services to the traders.

They need to come ahead, make investments and produce low cost electrical energy for the economic sector. He stated that authorities was selling web metering whereas entrance desks had been additionally being established in any respect DISCOs to encourage individuals to provide their very own electrical energy by means of photo voltaic. He stated {that a} testing lab has been established close to Kala Shah Kaku for the testing of photo voltaic panel high quality.

Irfan Iqbal Sheikh stated that Punjab has an important significance in Pakistan’s economic system because it contributes round 55% to the nationwide GDP and accounts for about 68% of electrical energy demand within the nation.

He stated that vitality was an essential element of the funding local weather due to its position as an essential enter within the manufacturing course of.

He stated that along with the environmental issues, the elevated dependence on costly thermal energy era ends in tariff hikes, subsidies, round debt, inefficiencies which hamper the competitiveness of Industrial sector.