It seems that in terms of support from the state machinery for alternative energy, South Asia is becoming the leader. Nepal has already become an international success story in biogas. Bhutan is very strict about environmental standards. Bangladesh government also encourages alternative energy and in this year's budget the government removed all taxes for importing solar panels. Recently, I wrote about the support of Indian president about bio-diesel. Now, Pakistani President General Pervez Musharraf yesterday announced that his government would encourage investment on alternative energy.
Pakistan is doing fine in this sector. Pakistan is producing some energy by using wind power and solar power. In fact, because of some good success in using alternative energy, Pakistan could save some foreign exchange from its oil import bill. However, the continuous high economic growth in the country for the last 4-5 years has increased the demand of oil substantially. The continuous rising oil price in the international market is becoming a major cause of concern for Pakistan and now alternative energy looks to be more attractive to the government.
Some foreign companies are interested to invest in this sector in Pakistan. However, I feel that Pakistani government should give some attractive packages to ensure more investment.
What do you think?
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