ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday announced that the government had prepared a plan to ensure all government buildings and departments would be powered by solar energy, adding that it would greatly reduce Pakistan’s costly import bill.

Earlier this month, Pakistan announced it had prepared a National Conservation Plan to save energy. The South Asian country, already in the throes of soaring inflation, has low foreign reserves barely enough to cover a month of imports. 

To cut reliance on imported fossil fuels, Pakistan plans to increase the share of clean energy to 60% in its energy mix by 2030. Currently, the share of renewable energy is only about 4%, according to government data.

Pakistan’s energy imports during the last fiscal year were $23.3 billion, 29% of the country's total imports. During the current fiscal year, the country imported energy products worth $7.7 billion, according to the Pakistan Bureau of Statistics (PBS).

Pakistan’s precarious economic condition has fueled speculation that the South Asian country may default on its international payments. It spends a whopping $29 billion annually on its imports, which in the local currency amounts to over Rs 6 trillion. 

PM Sharif’s government has repeatedly called for using solar energy to slash Pakistan’s costly import bill. At a solarization conference in Islamabad, the prime minister reiterated that government buildings, at least, should be powered by solar energy next year to ensure Pakistan saves its reserves. 

“By end of April next year, all federal government departments, whether it be police, NACTA, health, interior, even, the power ministry itself, would have access to cheap electricity,” Sharif said. 

Sharif said Pakistan had “no other option” in the long run but to turn to the International Monetary Fund (IMF) for financial assistance. He said in this sense, solar energy was a “low-hanging fruit” that can be used to put less pressure on Pakistan’s reserves. 

“Every single dollar, at this point in time, is precious,” he said. “Your import [cost] from this [solar energy] would be saved,” he added. 

Sharif said that with these urgent measures, the government would be able to generate 300 MW to 500MW of cheap power.