14 hours ago
- Business
- Business Recorder
Pakistan's PET bottle maker to install 2MW solar system
Ecopack Limited has taken a significant step towards sustainable energy consumption, announcing plans to install a 2 megawatt (MW) solar system.
The listed company, engaged in the manufacturing and sale of Polyethylene Terephthalate (PET) bottles and preforms for the market of beverages and other liquid packaging industry, disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Monday.
'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 notice.
Ecopack Limited is a limited liability Company incorporated in Pakistan under the repealed Companies Ordinance, 1984.
Days ago, Gharibwal Cement Limited successfully commissioned an additional 12.5MW solar power system at its plant site.
Despite being a low-income country plagued by economic and social issues, a green revolution is taking place in Pakistan, and the South Asian country has quietly emerged as one of the world's largest markets for the growing solar industry.
According to the Global Electricity Review 2025 by Ember, an energy think tank in the UK, Pakistan imported 17 gigawatts (GW) of solar panels in 2024, joining the ranks of leading solar nations.
This rising trend has left decision-makers grappling with its implications for the national grid and energy sector, as electricity consumption remains stagnant.
In response, the federal government, in its budget for the financial year 2025-26, on Tuesday revealed its intention to impose an 18% sales tax on imported solar panels.
The proposed tax would help the local industry grow, Finance Minister Muhammad Aurangzeb said in his budget speech in the National Assembly.
However, the government, after consultation with the stakeholders, decided to lower GST to 10%.
The development comes amid a solar boom in the country, with net-metering capacity in Pakistan jumping to 2,813 megawatts (MW) as of March 31, 2025, according to the Pakistan Economic Survey 2024-25.
