Investment cooperation in green development: Pakistan, China may sign three-year pact 

  The MoU will be inked with Ministry of Commerce China which is actively implementing China’s commitment to be carbon neutral by 2060. The Ministry is also carrying out China’s 14th Five-year plan (2021-2025) for National Economic and Social Development and long-range objectives though the year 2035.

The MoU is based on the goodwill and needs of businesses of both countries and the practical foundation for strengthening cooperation in the field of green development.

According to the proposed draft MoU, the parties will adhere to the green consensus and promote green development. They will take the global energy transition as an opportunity to stimulate new growth drives in green development, deepen exchanges and cooperation in green economy and clean energy, and promote high quality development of bilateral investment cooperation.

The parties will enhance synergy between green development strategies and policies, encourage local governments, industrial organisations, financial institutions and businesses to enhance coordination, tap the potential of green development cooperation and jointly create the momentum of cooperation for the future.

The parties will encourage businesses to conduct investment cooperation in green development, including clean energy such as photovoltaic, wind power, nuclear, hydrogen and biomass energy, new energy vehicle industry such as power battery, smart charging pile production service and battery disposal and recycling, as well as, green finance and green infrastructure construction.

The parties will encourage businesses to, in compliance with the requirements of the United Nations Framework Convention on Climate Change, the Convention on Biological Diversity and the carbon-neutral commitment targets, fulfil environmental obligations, promote green design, green procurement, green construction, green production and green operation, and facilitate the coordinated development of the local economy, society and the ecological environment.

The parties will encourage businesses to accelerate green transformation, increase investment in green technology, jointly promote green technology innovation and carry out high-level joint research through the establishment of scientific and technological innovation platforms such as R&D centres, innovation centres, laboratories and incubators.

The parties will agree to give full play to the leading role of the investment cooperation working group under the mechanism of China- Pakistan Joint Commission (or mixed committee) on Economic and Trade Cooperation(or the parties agree to give full play to the leading role of China- Pakistan Joint Commission(or mixed committee) on Economic and Trade Cooperation if there is no Working Group), with the Department of Outward Investment and Economic Cooperation of the Ministry of Commerce of China and Department of Executing Agencies of this Memorandum, to step up policy exchanges, implement the work set out in this Memorandum, and build a pragmatic and efficient platform for green development cooperation.

This Memorandum will come into effect on the date of signature and remain in effect for three years.

 

 

Institution of Electrical and Electronics Engineers Pakistan may float shares of energy projects on bourses

Institution of Electrical and Electronics Engineers Pakistan (IEEEP) President Engineer Mohsin
M Syed has suggested that shares of energy projects be floated in the stock exchanges to collect
billions of rupees for energy projects. He was addressing the 35th Annual Convention/ AGM of
IEEEP here on Thursday. Chief Executive ICI Pakistan and founding member of IEEEP engineer
Shafiq A Siddiqi was the chief guest of the event.
Mohsin Syed said Pakistan was currently facing a minimum shortage of 10,000 megawatts. He
suggested that "we should plan to generate cost effective 50,000MW of electricity by 2030 in
order to provide electricity to 45 percent Pakistanis who are not connected to the grid."
Solar energy, he said, was an option in which every Pakistani could participate by installing 1-5
kilowatts in their homes. "This can remove 3,000 megawatts of load from distribution network
which will be given to the industry adding that this will create jobs. Similarly agriculture tube
wells from 15-20 kilowatts can be converted to solar energy and 200,000 tube wells can spare
another 3,000MW from the distribution system benefiting the former by reducing the input cost
of water."
He also suggested that projects like 6,000MW to 10,000MW could be set up at Keti Bander
where initially imported coal could be used and gradually replaced by Thar coal. He suggested
that there was a need to study the use of three-phase electricity meters for homes. "All the utility
system in North America and Japan uses single phase transformers, which are cost effective for
users and are better suited for load balancing on all phase by the utility company."
Syed hoped that the government would create the critical mass of technologists in the technical
ministries, who would ensure logical and strategic planning at the right forums. IEEEP Honorary
Secretary General Rana Abdul Jabbar Khan presented the annual report in which he highlighted
the activities of the IEEEP such as holding of symposiums, seminars, workshops, lectures and
publications of research journals "New Horizons".
He also said "the ongoing energy crisis is calling us to go for solar energy for bridging the
demand supply gap. Therefore, institution needs to disseminate latest technical knowledge about
renewable technologies like solar, wind and the biomass etc."