Despite all obstacles, private sector wants to go deep into Thar Coal Power, Siddiqsons Energy Limited, Pakistan

February 1, 2024
Updated 2024/02/01 at 7:28 PM
2 Min Read

Karachi: Thar coal power is central to existence of Pakistan and its energy security. On one hand imported fuel plants have caused a huge damage to foreign exchange reserves of Pakistan. Pakistan’s fuel import bill has been in the range of 20-26 billion US$ annually and this is the single largest use of our hard earned remittances and export dollars. For Pakistan to grow, this has to come down significantly.

The solution is in 2 words – Thar Coal. Thar can provide the base load and also a local source of fuel. This local fuel has huge potential to provide energy security to Pakistan but Pakistan’s problem has increased due to lack of international support for the project. Financing and EPC contracts have been fading away and even a few local banks have decided to not support coal projects.

Even in these circumstances, a local developer is fully committed to Thar coal power. Siddiqsons Energy has been developing this project for a few years now, and is fully positioned to implement it currently. “We have all documents, studies, approvals, fundings, and contracts in place already, we just want a much needed support from relevant departments and we are good to take off”, said a spokesman of Siddiqsons Energy Limited.

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