SIFC playing vital role for improvement in energy sector

The Special Investment Facilitation Council (SIFC) has been playing an important role in bringing improvement in the energy sector. Anti-Theft Task Force has been established by SIFC to crack down on electricity theft. Ninety-five billion rupees have so far been recovered as a result of the efforts of the task force. Concrete steps are being taken to tackle the circular debt which has been a major challenge. A comprehensive strategy has been developed to manage and reduce this debt burden. A solar project of one megawatt in Gilgit-Baltistan and one hundred and fifty megawatt in Sukkur have successfully been installed. Saudi Fund for Development has offered cooperation in two ongoing hydropower projects in Azad Jammu and Kashmir. Chinese company Sinotec Solar plans to set up a three GW solar panel manufacturing plant in Karachi, which will focus not only on the production of solar panels, but also on the production of industrial batteries and electric vehicles (EV) trucks. It will also help promote clea n energy and sustainable transportation. A Memorandum of Understanding has been signed to convert the existing thermal power plant into a state-of-the-art three hundred megawatt solar power facility with foreign direct investment of 200 million dollars. Shanghai Electric Group has invested in Thar Coal Block-1 underscoring its commitment to Pakistan's energy sector. Oil refineries, including Attock Oil Refinery, National Oil Refinery and Cnergyico Private Limited are upgrading themselves to meet Euro-V standards. Source: Radio Pakistan