ISLAMABAD: The amount allocated for various renewable energy projects in the federal budget for fiscal year 2015-16 will help utilise available natural resources in the country.
This was stated by Climate Ministry’s Secretary Arif Ahmed Khan, while talking to media. He said that funds earmarked in the federal budget for several solar, wind, hydro and nuclear power projects would be a welcome step towards optimising the energy generation mix among oil, gas, coal, hydro, nuclear, solar and wind.
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He said that tapping into renewable energy sources will lead to a reduction in the country’s carbon foot-print, tackling environmental degradation, and putting the current trajectory of the country’s economic growth towards achieving sustainable development goals.
The secretary said that the government has announced interest-free loans to farmers for installation of solar tube-wells, zero import duty on solar and wind power generation equipment, 5-year tax holiday on the local industry involved in manufacturing of solar and wind power generation equipment, zero sales tax on locally-manufactured solar and wind power equipment are all glaring examples of the present government’s serious interest in promoting use of renewable energy.
Arif Ahmed Khan said that it is also encouraging to note that allocations of Rs 1.5 billion for evacuation of power from wind power projects (200 MW) at Jhimpir and Gharo wind clusters and Rs 300 million for the Quaid-e-Azam Solar Park in Bahawalpur (phase-II) have also been made in the Public Sector Development Programme (PSDP) to boost wind and solar electricity generation.
