Pakistan is rapidly advancing towards energy independence with ambitious renewable energy projects under the Special Investment Facilitation Council (SIFC), moving away from coal and furnace oil towards cleaner sources like hydro, solar, and Compressed Natural Gas (CNG) as envisioned in Vision 2031.
A 150-megawatt solar power project in Sukkur and a one-megawatt project in Gilgit-Baltistan are now operational. Two 70-megawatt hydro projects in Azad Kashmir and a substantial three-gigawatt solar facility in Karachi, backed by $101 million in Saudi Arabian funding, are also under construction.
Significant upgrades are underway. A two-billion-dollar overhaul of K-Electric is progressing quickly. Refineries are being modernized to meet Euro-5 standards with a one-billion-dollar investment. Separately, the World Bank has greenlit $149.7 million for the expansion of Pakistan”s digital infrastructure.
Further initiatives include modernizing coal, gas, and thermal power plants, along with plans to privatize electricity distribution companies. Agreements securing investments from Saudi Arabia, Azerbaijan, and the United Arab Emirates have been finalized.
The SIFC is also spearheading advancements in projects like OGDCL”s Rayan-11 and OPEC Plus under its revised energy strategy. The government”s decision to offer 35 percent of its gas holdings to private entities is anticipated to draw five billion dollars in investment.