ISLAMABAD: Minister of State for Power Ali Pervaiz Malik reiterated the government’s commitment to pursue renewable energy projects in a brief video message on Wednesday while categorically denying any decision to impose duty or tax on solar panels.
Malik’s statement came as local media outlets reported that the administration in Islamabad had decided to amend the net metering regulations to impose new tariffs on the sale and purchase of solar energy produced by users. These reports also claimed the government was planning to impose a fixed tax on those who have installed solar panels.
Net metering is a billing mechanism that allows consumers who generate their own electricity, usually through solar panels, to feed any excess electricity back into the grid.
Pakistan officially introduced the system in 2015, prompting a significant number of its citizens to generate their own electricity amid rising power tariffs.
“Prime Minister Shehbaz Sharif is committed to renewable energy projects,” Malik said in his message.
“So far, there has been no decision related to the imposition of any tax or duty on solar panels or to generate money by imposing a tax on electricity production by people who have installed these panels,” he added.
The minister said any revision to the policy would be done through consultations and by keeping the prime minister’s Green Pakistan Initiative in mind.
Pakistan has set an ambitious target to generate 60 percent of its energy from clean and renewable energy sources by 2030.
The goal is part of a broader strategy to transition toward sustainable energy, which includes a significant push for solar and wind power development, given the country’s substantial potential in these areas.
Additionally, Pakistan plans to have 30 percent of its vehicles running on electricity by the same year, aligning with global environmental targets and efforts to reduce reliance on fossil fuels.
The Green Pakistan Initiative, primarily aimed at agricultural and environmental improvements, also indirectly supports power production through sustainable energy practices and infrastructure development.
Government reaffirms Pakistan’s commitment to renewable energy, rejects solar panel tax reports
Government reaffirms Pakistan’s commitment to renewable energy, rejects solar panel tax reports
- It says any policy revision will be done through consultations, with Green Pakistan Initiative in mind
- Pakistan aims to generate 60 percent of its energy from clean and renewable energy sources by 2030
Pakistan launches digital tools to trace life insurance claims, tighten motor insurance enforcement
- SECP rolls out SMS-based Life Insurance Policy Finder, orders insurers to join Motor Insurance Repository
- The regulator says centralized data will help authorities verify coverage, reduce long-unclaimed benefits
KARACHI: Pakistan’s securities regulator on Monday announced two digital initiatives aimed at overhauling how insurance data is stored and accessed, in a push to strengthen enforcement, improve transparency and make it easier for citizens to trace insurance coverage.
The Securities and Exchange Commission of Pakistan (SECP) announced in two separate statements it had introduced a nationwide Life Insurance Policy Finder to help families identify policies held by deceased relatives. It also directed all non-life insurers to join a centralized Motor Insurance Repository (MIR).
Both systems, developed with the Central Depository Company (CDC), seek to address longstanding gaps in a sector where weak records, low compliance and limited data-sharing have left motorists, policyholders and beneficiaries without reliable recourse.
“The Securities and Exchange Commission of Pakistan (SECP), in collaboration with the Central Depository Company of Pakistan Limited (CDC) and the Insurance Association of Pakistan (IAP), has introduced the Life Insurance Policy Finder Service,” it said in one of the statements. “This initiative is designed to facilitate the general public in locating life insurance policies of deceased loved ones.”
“The service addresses a long-standing challenge faced by families who remain unaware of life insurance policies held by their deceased relatives,” it added. “This lack of awareness often results in legitimate claims and benefits remaining unclaimed for years.”
The SECP said the initiative aims to strengthen consumer protection, promote transparency and provide structured and secure access to insurance benefits for rightful heirs and beneficiaries.
Under the new policy-finder service, which goes live on Dec. 15, individuals can send the CNIC number of the deceased via SMS to 99833.
If a policy exists, the relevant insurer will contact the beneficiary to verify details and guide them through the claims process. Life insurers and family takaful operators have also been instructed to participate fully and respond to queries within set turnaround times.
Separately, on the motor insurance side, all non-life insurers underwriting vehicle policies are required to sign a service-level agreement with the CDC within 60 days and begin uploading complete and validated policy data to the MIR.
The repository will allow provincial and federal authorities to verify third-party insurance coverage, a requirement that exists on paper but remains loosely enforced nationwide.
The SECP said the measures form part of its broader effort to promote digital transformation, improve compliance and safeguard consumer interest.
“A centralized and validated data repository will allow authorities to verify insurance coverage efficiently, addressing significant gaps in compliance,” it added.
