LAHORE: Investing in solar is not just about energy; it's about fostering sustainable development, reducing environmental impact and enhancing the quality of life for all Pakistanis, Mian Faraz Shafiq Alam, Chairman Alam Energy, said.

“Now is the right time for Pakistan to act, not just for our current economic and environmental needs but for the future of our nation,” he said, adding: "Encouraging the development of small to medium-sized solar farms, ranging from 10MW to 100MW, through conducive policies and incentives could propel Pakistan towards greater energy self-sufficiency,"

Pointing to the untapped potential of the Cholistan region, Alam noted, "These areas are blessed with abundant sunlight almost year-round, which is a valuable but underutilized natural resource." He emphasized that transforming these idle lands into productive solar farms could significantly boost the country's energy production while reducing reliance on expensive imported fossil fuels like furnace oil and LNG, which strain the national economy.

Alam also urged the government to foster a supportive environment for both local and international private entities to invest in solar infrastructure.

According to him, increased solar energy production would substantially decrease Pakistan's carbon emissions, contributing positively to global efforts against climate change. By cutting down our carbon footprint and potentially earning carbon credits, we can also make significant strides in our environmental responsibilities.

He also advocated for the implementation of electricity wheeling to allow industries, especially those in remote areas, to directly benefit from local solar power generation. This, he believes, would not only make Pakistani industries more competitive internationally but also stimulate economic growth in some of the country's most disadvantaged regions.

Copyright Business Recorder, 2024