Ecopack approves 2.03MW solar power project
KARACHI: In a major step towards embracing clean energy solutions, Ecopack Limited, a listed company specialising in the manufacturing and sale of Polyethylene Terephthalate (PET) bottles and preforms has announced plans to install a 2.03 megawatt (MW) solar power generation facility at its site.
In a notice sent to the Pakistan Stock Exchange (PSX) on Monday, the company formally disclosed that its Board of Directors has approved capital expenditure (CAPEX) for the acquisition of land measuring 3.63 acres, alongside the installation of the solar power project. The initiative underscores Ecopack's commitment to reducing its environmental footprint and cutting operational energy costs through renewable energy integration.
'In accordance with Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of PSX Regulations, the Board has approved the CAPEX for acquisition of land measuring 3.63 acres and the installation of a 2.03 MW solar power generation facility,' read the company's official statement.
Ecopack Limited, incorporated in Pakistan as a limited liability company, primarily caters to the beverage and liquid packaging industry and has increasingly prioritized sustainable practices as part of its operational strategy. The development is a part of broader clean energy transition in Pakistan, where the adoption of solar power has gained considerable momentum in recent years.
Despite being a developing economy facing significant fiscal and energy challenges, Pakistan has quietly emerged as one of the fastest-growing solar markets globally. According to the Pakistan Economic Survey 2024-25, the country's net-metering capacity surged to 2,813 MW as of March 31, 2025, reflecting the sharp increase in both industrial and residential solar installations.
Meanwhile, this rapid adoption has prompted the federal government to revise its policy framework for the solar sector. In the federal budget for 2025-26, Finance Minister Muhammad Aurangzeb proposed an 18 percent sales tax on imported solar panels — a move aimed at supporting local manufacturing. However, following consultations with industry stakeholders, the government revised the General Sales Tax (GST) rate downward to 10 percent.
Industry experts believe that initiatives like Ecopack's solar project not only demonstrate corporate responsibility but also signal the maturing of Pakistan's renewable energy sector, as businesses increasingly seek energy security and operational efficiency amid volatile fuel prices and frequent power shortages.
Copyright Business Recorder, 2025
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