LAHORE: Federal Planning and Development Minister Ahsan Iqbal emphasized the immense potential Pakistan has in producing renewable energy from wind and solar, estimating a capacity of 30,000 megawatts from wind and three billion megawatts from solar energy. However, he stressed that mobilizing both private and public finance is essential to harness this potential.
Speaking at the Asia Energy Transition Summit 2024, held at Lahore University of Management Sciences (LUMS), Iqbal outlined the federal government’s five key pillars for transitioning from fossil fuels to renewable energy. These include fostering innovation, mobilizing new financial resources such as an Asia Energy Transition Fund, harmonizing policies within Pakistan and across Asia, promoting regional collaboration, and ensuring a just energy transition.
Senator Sherry Rehman also highlighted the critical need for financing to address climate change and energy transition challenges. Other notable speakers included Sher Ali Arbab and Shahjahan Mirza, discussing the importance of decentralized energy policies and the need for regional power generation initiatives.
