ISLAMABAD: China’s plan to unveil progress in its energy revolution during this year’s “Two Sessions” offers Pakistan a timely opportunity to review and improve its renewable energy strategy. Linked to Chinese initiatives, Pakistan can leverage technological advances, financing mechanisms and cooperative partnerships to accelerate its transition to a more sustainable and resilient energy future.
The “Two Sessions” refer to the annual meetings of the National People’s Congress (NPC), China’s top legislature, and the National Committee of the Chinese People’s Political Consultative Conference (CPPCC).
The sessions bring together China’s leading lawmakers and policy advisors to discuss national policies across various sectors. This year’s “two sessions” took place from March 4 to 11.
Its development model always emphasizes shared growth not only for Pakistan but also for the whole of South Asia. Pakistan should make the most of the forums it participates in and our national development planning should play a key role in this process.
“Continued cooperation between Pakistan and China is of paramount importance and serves as a cornerstone for both nations. This importance is particularly evident in initiatives such as the China-Pakistan Economic Corridor (CPEC), which is a flagship program of mutual benefit to both countries. In Phase 2 of CPEC, it is imperative to review Pakistan’s energy policy, which I believe is crucial,” he said.
“Given Pakistan’s significant import bill of mostly oil and related products, it becomes imperative for us to seize opportunities in low-cost power generation, green energy initiatives and climate finance. Pakistan must use these forums to maximize the benefits in effectively addressing these issues,” added Sajid.
Pakistan can focus on areas such as climate finance, especially capacity development initiatives aimed at generating climate finance, including issuing green bonds and social bonds.
Pakistan and China are heavily involved in external debt agreements. When the two countries negotiate debt swap agreements, it will bring favorable results to Pakistan. These agreements usually involve the restructuring or conversion of debt obligations, resulting in more favorable terms for Pakistan, such as lower interest rates or extended repayment periods. Such measures can ease Pakistan’s debt burden and contribute to its economic stability and development,” noted Sajid Amin.
Mehmood Khalid, Senior Research Economist and former Executive Director, CPEC Center of Excellence at PIDE said, “Numerous hydro projects have been undertaken in Pakistan as an integral part of the national green energy drive.
According to data shared by the CPEC ministry, the Karot Hydropower Project – a rock gravity dam with an installed capacity of 720 MW – is key to providing clean and affordable energy.
The project is sponsored by the Chinese company “Three Gorges Corporation” (CTG).
Gwadar recently installed 7,000 solar panels, offering the local community major relief in overcoming the long-term energy crisis. The 100 MW Jhampir Wind Power Project in Sindh, the upcoming 1,124 MW Kohala Hydropower Project in Azad Kashmir and the Cacho Wind Power Project in Sindh are poised to reduce Pakistan’s dependence on non-renewable energy sources and further diversify its energy mix.
China has maintained its position as the world’s largest and fastest growing producer of renewable energy for more than a decade. In recent years, its lead has expanded further thanks to a significant increase in the capacity of solar and wind power plants.
