Govt to spend Rs337 billion on solar energy for tube-wells

The National Economic Council’s Executive Committee on Tuesday approved a project to solarize agriculture tube wells for the benefit of the nation’s farmers, costing Rs337.

Govt spend Rs337 billion on solar energy: “For the fiscal year 2023–2024, Phase I of the project will cost Rs90 billion, of which Rs30 billion will come from the Provincial PSDP (Public Sector Development Programme) and an equal amount from the recipient farmers. They stated that this initiative will convert 100,000 existing tube wells into solar PV systems to increase agricultural output using clean, green energy.

The ECNEC meeting, presided over by Senator Mohammad Ishaq Dar, Minister of Finance and Revenue, gave the go-ahead for the solarization of tube wells in Punjab, Sindh, Khyber Pakhtunkhwa, and Balochistan.

While the World Bank will lend the project $300 million, the province government of KP will invest Rs29.7 billion in it.

During the meeting, they approved the “Sindh Solar Energy Project (SSEP)” at a reduced cost of Rs27.41 billion.

The meeting also approved a project titled “Construction of Lahore Bypass from Kalashah Kaku Exit to KLM to Multan Road Near Radio Station (40km approx.)” for Rs 34.44 billion.

Furthermore, they have approved a $1.78 billion effort called the “Emergency Plan for Polio Eradication” to eradicate polio.