The Provincial Minister for Industries and Commerce, Chaudhry Shafay Hussain, on March 29, 2024, attended the launch ceremony of a new solar product of the Chinese company Huawei. Addressing the audience, Mr. Shafay said that Pakistan had been facing acute energy crises due to high energy generating costs, funding shortages, and heavy reliance on imported fossil fuels.
He pronounced that the Government of the Punjab was focusing on promotion of solar technology in the province and that efforts were underway to shift the Industry, government institutions, houses and agricultural tube wells to solar technology. In view of high potential for renewable energy resources in Pakistan, he urged the Chinese companies to invest in the solar sector. He also revealed that the Provincial Government was negotiating the Federal Government to reduce the heavy duties imposed on the import of solar panels for motorcycles.
Mr. Shafay, invited the Chinese companies to take advantage of investment opportunities in the Special Economic Zones (SEZs) in Punjab, where they could benefit from tax exemptions and one time exemption on the import of machinery.
