Investors asked to opt for Pakistan's renewable energy sector

The government in collaboration with China has undertaken several energy projects which would help overcome loadshedding menace by early 2018, said Federal Minister for Science and Technology Rana Tanveer Hussain on Tuesday. He said this during his address at the inaugural ceremony of a three-day international conference and exhibition on "Renewable Energy Technologies". The minister urged the investors to opt for Pakistan's renewable energy sector which has immense potential.
The event is being organised by the Pakistan Council of Renewable Energy Technologies (PCRET) and the Commission on Science and Technology for Sustainable Development in the South (COMSATS) in collaboration with the Islamic Educational, Scientific and Cultural Organisation (ISESCO), from October 18-20, 2016.
The minister said that Pakistan has been facing power shortage for over last many years; however, the incumbent government has taken several strides to overcome loadshedding. He said the promotion of renewable energy sector was top priority of the government and it has launched many projects to tap the renewable energy potential. Pakistan was blessed with high exposure solar energy which could be utilized for getting environmentally clean energy, he added.
He said the developed countries made immense progress to get clean energy from the renewable energy sector. However, underdeveloped countries could not yet tap the sector. The Ministry of Science and Technology (MoST), government of Pakistan showed tangible support towards initiatives related to Renewable Energy Technologies (RETs). Academia, Industry and R&D organisations have been urged to make extraordinary efforts to enhance the share of RETs in the countries total energy mix.
"Pakistan is endowed with a lot of solar energy throughout the year, which is a great investment opportunity for foreign and local business enterprises", said the minister, adding that it is important to fully exploit the RETs for successful implementation of the government's energy policies especially amidst the huge concerns related to energy scarcity. Federal Secretary MoST Fazal Abbas Maken highlighted the importance of RETs especially in view of the rising environmental concerns in face of rapid climate change.
He called for more efforts to include the share of renewable energy in the total energy mix of Pakistan. He lauded PCRET's efforts to install microhydel plants in the mountainous regions of Pakistan, including Gilgit and Baltistan and Kashmir, and those in Khyber Pakhtunkhwa.
Dr Basharat Mehmood, Director PCRET said that the vast renewable energy resources available in Pakistan are among the highest in the world. He stated that PCRET is making all out efforts to strengthen the area of RETs that has a lot of significance for present energy scenario of the country, and hoped that the deliberations of the event would enrich the Council's efforts with new knowledge, wisdom and best practices in the field.