ANTALYA: Prime Minister Shehbaz Sharif has said Pakistan needs $188 billion to achieve its clean energy targets by 2035.
Addressing a high-level session at the 31st UN Climate Change Conference (COP31) in Antalya, Türkiye, the prime minister presented Pakistan’s roadmap for transitioning to green energy.
He said clean energy sources currently account for around 55 percent of Pakistan’s total energy mix.
Shehbaz Sharif said Pakistan requires $138 billion for low-carbon electricity projects by 2035. Another $50 billion is needed to replace coal-based power generation with solar energy.
He stressed that Pakistan also needs investment in electricity transmission networks, energy storage systems and modern technology to achieve its climate goals.
The prime minister said Pakistan’s debt-constrained economy cannot finance the transition alone. He urged international partners to provide concessional loans, financial assistance and affordable technology.
Highlighting government initiatives, he said Pakistan’s new automobile policy aims to make 30 percent of new vehicles electric by 2030. The government is also offering incentives, including reduced tariffs, to promote electric vehicles.
He added that all buses and motorcycles purchased by the government in the future would be electric. More than 10 percent of motorcycles sold in Pakistan this year are already electric.
The prime minister also highlighted progress in nuclear energy, saying a key component of Pakistan’s seventh nuclear power plant would add 1,200 megawatts of electricity to the national grid.
Shehbaz Sharif called for greater international cooperation to achieve climate targets while supporting economic growth and meeting energy needs.
He said affordable financing and technology transfer were essential for Pakistan’s transition to clean energy by 2035.
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