The Saudi Fund for Development has committed $101 million for a hydropower project in Azad Jammu and Kashmir, which will add 70 megawatts of electricity to the national grid, ARY News reported.
As part of the Clean and Green Energy mission led by the Special Investment Facilitation Council (SIFC), efforts are being made to promote eco-friendly energy production through hydro and solar power.
In Karachi, a US company has installed a GW3 solar panel plant, which will facilitate the manufacturing of solar panels and electric vehicles. Additionally, the World Bank has approved a $150 million clean energy project in Pakistan.
These initiatives under SIFC are boosting the country’s production capacity, aiding in overcoming its energy crisis.
To ensure the effective implementation of SIFC recommendations, the federal government has formed a Cabinet Committee on Special Investment Facilitation Council. This committee will submit its decisions to the federal cabinet for approval.
Prime Minister Shehbaz Sharif will chair the committee, with the army chief, chief ministers, and the national coordinator attending the meetings by special invitation.
