Senator assures early solution to LC issue to help solar companies.

LAHORE -- Pakistan Muslim League-Nawaz (PML-N) Senator Capt. Shaheen Khalid Butt hoped that Letters of Credit (LCs) for imports will be opened soon, which will help facilitate the solar energy sector in the country.

"Clean energy is absolutely vital for the environment as it is cost effective for the consumers. In this context, I talked to Prime Minister Shehbaz Sharif and Finance Minister Ishaq Dar, and they expressed the hope that the government would soon be able to open LCs for imports as soon as the economy's stabilization is ensured," said the Senator Capt. Shaheen Khalid Butt while talking to journalists at a launch ceremony of 3-Phase Hybrid 30KW solar power equipment by Goodwe, solar inverter manufacturing company, on Solar Power Day.

The solar inverter company also signed MoUs for 400MW power products with three different investment companies for import of solar energy goods.

The solar energy sector has been under a lot of stress after LCs were stopped with effect from July 2022, which not just hampered promotion of the solar energy sector but also created a backlog of warranty claims.

Senator Capt. Shaheen Khalid Butt said that solar power was a very clean and efficient energy source, which must be tapped to optimum level to protect the environment. "Pakistan has suffered a great deal in the form of devastating floods due to global carbon emissions despite contributing very little towards greenhouse gases," he said, adding that the West, especially the European countries must compensate for the loss incurred by Pakistan due to global warming. "The recent $10 billion to $11 billion pledges by the world community for rehabilitation of flood victims were nothing compared to the colossal loss of life and property suffered by the Pakistanis," he added.

He said the Pakistan...