The government, with support from the Special Investment Facilitation Council (SIFC), has signed a significant agreement worth $10 billion to construct a new oil refinery. This project is part of a larger effort to address Pakistan’s ongoing energy crisis, which has been a major obstacle to economic growth.
In addition to the refinery, there are several projects aimed at exploring oil and gas reserves along the coast, with expected investments ranging from $5 to $6 billion. These initiatives are designed to boost the country’s energy resources and reduce dependence on imports.
Moreover, the government has launched a 150-megawatt solar power plant in Sukkur and a one-megawatt solar power plant in Hunza. These projects, developed through Public-Private Partnerships, highlight the focus on renewable energy.
The SIFC is prioritizing the development of hydel, solar, and wind energy sources over traditional coal and furnace oil, emphasizing sustainable and environmentally friendly energy generation for the future. This comprehensive strategy aims to secure Pakistan’s energy needs while promoting economic stability and growth.
