FTO coordinator highlights benefits of prioritising renewable energy in Pakistan

ISLAMABAD - Federal Tax Ombudsman (FTO) Coordinator Meher Ka­shif Younis on Sunday said by prioritising renewable energy, Pakistan can not only meet its electricity demands but also reduce its reliance on fossil fuels, and lower greenhouse gas emissions. Speaking at a seminar on “Impact of Re­newable Energy on Economy” held under the aegis of Gold Ring Economic Forum, a stra­tegic think tank, he said more­over, embracing clean energy will enhance our country’s image on the global stage, at­tracting investments and fos­tering sustainable economic growth. He said Pakistan faces the challenge of meeting the ever-increasing demand for affordable electricity while si­multaneously striving to com­pete effectively in the global markets. He said he firmly believed that embracing re­newable energy is the key to addressing these challenges. He said Pakistan is endowed with abundant renewable energy resources, including solar, wind, and hydropower. Harnessing these resources not only offers a sustainable solution to our energy needs but also presents numerous economic and environmental benefits. He urged the govern­ment to implement policies and incentives that encour­age investment in renewable energy projects with tax holi­days, subsidies, and feed-in tariffs that can attract private and foreign investments in the sector. Meher Kashif Younis said foreign direct investment and local investment in the development of renewable energy infrastructure, includ­ing solar and wind farms, hy­droelectric plants, and energy storage facilities, will ensure a reliable and consistent energy supply. He said collaboration with international organisa­tions and countries experi­enced in renewable energy will help achieve the desired results from their successes. He said the government must launch nationwide campaigns to raise public awareness about the benefits of renew­able energy and encourage energy conservation. He said promoting renewable energy is a vital step towards secur­ing a brighter and more pros­perous future for Pakistan. 

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