ISLAMABAD - Chairman Pakistan Hitech Hybrid Seed Association (PHHSA) Shahzad Ali Malik on Sunday urged the government to offer soft loans for promoting solarisation, mitigating the emerging hovering threat of climate change across the country.
Talking to a delegation of industrialists, he said Pakistan, like the rest of the world, faces significant challenges from climate change, said a news release issued here.
“Industries and households are major contributors to greenhouse gas emissions, which exacerbate these challenges,” he added
However, he firmly believed that we have a tremendous opportunity to mitigate these threats and transition towards a greener, more economically viable energy source — solar power.
He proposed the establishment of a government initiative that advances soft loans to both industrial and domestic sectors for solarisation and providing financial support to businesses and households looking to invest in solar energy systems, we can achieve several critical objectives. He said solar power is increasingly becoming a cost-effective source of energy and by facilitating its adoption through loans, we can reduce energy costs for both industries and households, thereby improving the economic well-being of our people. Shahzad Ali Malik said relying on solar energy will reduce dependence on fossil fuels and imported energy sources besides enhancing our energy security and reduce vulnerability to global energy price fluctuations.
He said solar energy is clean and renewable, emitting no greenhouse gases during its operation and encouraging its adoption will significantly reduce our carbon footprint and contribute to global climate change mitigation efforts.