- The country’s renewable energy sector is poised for a bright future, promising energy security and sustainability
- Local and foreign investments power Pakistan’s renewable energy boom
Interview with Ms. Rozina Muzammil — Chief Human Resource Officer, The Institute of Bankers Pakistan
PAGE: Tell me something about yourself, please.
Rozina Muzammil: With over two decades of diversified experience at the executive level, I have had the privilege of working in various capacities across human resource management, corporate governance, teaching & training, auditing, finance, costing, and budgeting. My career has been marked by leadership roles such as General Manager of Finance in the FMCG industry and Executive Director at the Pakistan Institute of Public Finance Accountants (PIPFA). Since December 2015, I have been serving as the Chief Human Resource Officer at the Institute of Bankers Pakistan. I am a Certified Labour Law Practitioner & Industrial Relations Analyst, as well as a Certified Director under the Code of Corporate Governance 2012 of the Securities Exchange Commission of Pakistan.
My professional affiliations include being a Fellow Member of the Institute of Cost and Management Accountants of Pakistan (ICMAP) and the Pakistan Institute of Public Finance Accountants (PIPFA), along with being a Professional Member of the Institute of Management Accountants (IMA), USA. My academic credentials include a Master of Business Administration (MBA), numerous HR leadership programmes, and certification as a CQI | IRCA | Quality Management Systems Lead Auditor from TUV Austria Romania. As a Ph.D. A scholar specialising in Human Resource Management at Asia e University, Malaysia. I have also contributed to academia through my book “Fundamentals of Accounting,” published by an HEC-recognised university in 2014.
Additionally, I have authored seven articles published in leading Pakistani journals, including the Quarterly Journal of IBP, ICMA International, ICSP and PIPFA, from 2020 to 2024. My commitment to professional and community service is reflected in my roles as the Founder Member and former Convener of the CMA Women’s Forum, and a Member of the ICMA International Karachi Branch Council from 2015 to February 2019. I have also served as an HR Expert for recruiting Management Training Officers (MTO) at House Building Finance Company Limited (HBFCL). I have served on the Board of the Institute of Management Accountants (IMA) USA Pakistan Chapter as honourary Vice President of Professional Education.
In all these roles, my focus has been on fostering organisational excellence, promoting sustainable practices, and contributing to the professional growth of individuals and institutions.
PAGE: How would you comment on the progress of the alternative energy sector in Pakistan?
Rozina Muzammil: The progress of the alternative energy sector in Pakistan has been quite remarkable over the past decade. The country’s energy landscape is undergoing a significant transformation as it shifts from a heavy reliance on fossil fuels to incorporating more renewable energy sources.
1. Government initiatives and policies: The Pakistani government has shown a strong commitment to developing the alternative energy sector. Policies like the Alternative and Renewable Energy Policy 2019 aim to increase the share of renewable energy in the national energy mix to 30% by 2030. This is a substantial target that highlights the government’s dedication to sustainable development.
2. Solar and wind energy projects: Pakistan’s geographical location offers abundant solar and wind resources. The country has seen a surge in solar power projects, particularly in the arid regions of Sindh, Punjab, and Balochistan. The Quaid-e-Azam Solar Park in Punjab is one of the largest solar farms in the world. Additionally, wind energy projects in the Gharo-Keti Bandar Wind Corridor have significantly contributed to the national grid.
3. International investments and collaborations: The alternative energy sector has attracted significant foreign investments. International financial institutions like the World Bank and the Asian Development Bank, as well as private investors, are supporting various renewable energy projects. These collaborations have facilitated the transfer of technology and expertise, further accelerating the sector’s growth.
4. Community and off-grid solutions: Renewable energy is also making a positive impact on rural and remote communities. Off-grid solar solutions are providing electricity to areas previously without access to power, improving the quality of life and economic prospects for many.
5. Environmental and economic benefits: The shift towards renewable energy is not only addressing the environmental concerns associated with fossil fuels but also offering economic benefits. It creates jobs, reduces the import bill for oil and gas, and stabilizes energy prices in the long term.
6. Challenges and future prospects: Despite these advancements, the sector faces challenges such as financial constraints, regulatory hurdles, and the need for improved infrastructure. However, with continued policy support, investment, and innovation, the alternative energy sector in Pakistan is poised for a bright future. In conclusion, Pakistan’s journey towards harnessing its renewable energy potential is progressing steadily. With sustained efforts, the country can achieve energy security, reduce its carbon footprint, and pave the way for a sustainable and prosperous future.
PAGE: What is your standpoint on local and foreign investment in alternative energy projects?
Rozina Muzammil: Local and foreign investments play a key role in the development and success of alternative energy projects in Pakistan. Both types of investment bring distinct advantages and collectively contribute to the robust growth of the renewable energy sector.
1. Local investment:
Local investment is vital for fostering a sense of ownership and sustainability within the country. When Pakistani businesses and entrepreneurs invest in alternative energy projects, they not only stimulate the local economy but also ensure that the projects are tailored to the specific needs and conditions of the region. Local investors are often more attuned to the socio-economic landscape and can drive initiatives that directly benefit local communities. Moreover, local investment helps in building technical expertise and capacity within the country, which is essential for the long-term maintenance and expansion of renewable energy infrastructure.
2. Foreign investment:
Foreign investment brings in much-needed capital, advanced technology, and international best practices. Pakistan has been successful in attracting significant foreign investment in its renewable energy sector, which has facilitated the development of large-scale projects. International financial institutions, private investors, and multinational corporations have shown increasing interest in Pakistan’s renewable energy potential, particularly in solar and wind power. Foreign investors often bring expertise and innovative technologies that can accelerate project development and enhance efficiency. Additionally, foreign investment can lead to beneficial partnerships and collaborations, resulting in knowledge transfer and capacity building for local stakeholders. These partnerships are crucial for integrating global standards and practices into the local context, ensuring that Pakistan’s renewable energy projects are both modern and sustainable.
3. The synergy of local and foreign investment:
The combination of local and foreign investment creates a synergistic effect that drives the alternative energy sector forward. While local investors ensure that projects are grounded in the local context and benefit the domestic economy, foreign investors provide the necessary financial muscle and technological advancements. This partnership can lead to more resilient and impactful projects that are well-suited to Pakistan’s unique energy landscape.
4. Government support and policy framework:
The Pakistani government has been proactive in creating a conducive environment for both local and foreign investment in the renewable energy sector. Policies such as the Alternative and Renewable Energy Policy 2019 have set ambitious targets for renewable energy adoption and offer incentives for investors. These include tax benefits, tariff guarantees, and streamlined regulatory processes. Such measures are crucial in attracting and retaining investment in the sector.
5. Future prospects:
Looking ahead, the continued influx of local and foreign investment will be instrumental in achieving Pakistan’s renewable energy goals. With the right mix of policy support, financial incentives, and strategic partnerships, Pakistan can leverage its abundant renewable resources to ensure energy security, reduce its carbon footprint, and drive economic growth. In conclusion, both local and foreign investments are indispensable for the growth of Pakistan’s alternative energy sector. By fostering a collaborative and supportive investment environment, Pakistan can harness the full potential of its renewable energy resources and pave the way for a sustainable and prosperous future.
PAGE: What must be done to promote alternative energy to avert enormous energy import bill?
Rozina Muzammil: To effectively promote alternative energy and reduce Pakistan’s substantial energy import bill, a multi-faceted approach is necessary. This strategy should encompass policy reform, investment incentives, technological advancement, and public awareness.
1. Strengthen policy and regulatory framework:
The government must continue to strengthen and streamline policies that favour the development of renewable energy. The Alternative and Renewable Energy Policy 2019 is a step in the right direction, but more needs to be done. Policies should focus on long-term stability, offering clear incentives for investment in solar, wind, hydro, and biomass energy. Simplifying the regulatory process and ensuring transparency can attract both local and foreign investors.
2. Financial incentives and support:
Providing financial incentives such as tax breaks, subsidies, and low-interest loans can significantly boost investment in renewable energy projects. The government could establish a green energy fund to support startups and innovative projects in the renewable energy sector. Additionally, creating public-private partnerships can leverage private investment while sharing risks and rewards.
3. Invest in research and development:
Investing in research and development (R&D) is crucial to advancing renewable energy technologies and making them more efficient and cost-effective. Establishing dedicated research centers and fostering collaboration between universities, research institutions, and industry can drive innovation. Focus areas should include energy storage solutions, grid integration, and improving the efficiency of renewable energy systems.
4. Infrastructure development:
Upgrading and expanding the national grid to accommodate the influx of renewable energy is essential. Investment in smart grid technologies and energy storage systems can help manage the intermittent nature of renewable sources. Additionally, building local manufacturing capabilities for renewable energy components can reduce dependency on imports and create jobs.
5. Public awareness and education:
Raising public awareness about the benefits of renewable energy is vital. Educational campaigns can highlight the economic, environmental, and health advantages of transitioning to clean energy. Encouraging community-based renewable energy projects can demonstrate the practical benefits and foster grassroots support. Integrating renewable energy topics into school curriculums can educate the younger generation and build a knowledgeable workforce for the future.
6. Foster international collaboration:
International collaboration can provide access to advanced technologies, funding, and best practices. Engaging with international organizations, participating in global renewable energy initiatives, and forming strategic alliances with countries leading in renewable energy can accelerate Pakistan’s transition.
7. Encourage private sector participation:
The private sector has a critical role to play in the renewable energy transition. Creating a conducive environment for private investments, ensuring competitive energy tariffs, and protecting investor interests can attract substantial private sector participation. Promoting small and medium-sized enterprises (SMEs) in the renewable energy sector can drive innovation and increase market competition.
8. Localise production and supply chains:
Encouraging the local production of renewable energy components can significantly reduce costs and dependence on imports. Developing local supply chains for solar panels, wind turbines, and other renewable energy technologies will create jobs and stimulate the economy. Incentives for local manufacturing and technical training programmes can support this localisation effort.
In conclusion, promoting alternative energy to reduce Pakistan’s energy import bill requires a comprehensive and coordinated effort across various sectors. By implementing robust policies, providing financial incentives, investing in R&D, upgrading infrastructure, raising public awareness, fostering international collaboration, encouraging private sector participation, and localising production, Pakistan can achieve a sustainable energy future and significantly alleviate its energy import burden.
PAGE: How do you view the government policies supporting the alternative energy sector?
Rozina Muzammil: The government policies supporting the alternative energy sector in Pakistan have been instrumental in steering the country towards a more sustainable and diversified energy portfolio. These policies reflect a growing recognition of the importance of renewable energy in ensuring energy security, reducing environmental impact, and promoting economic growth. Here’s a detailed view of the effectiveness and impact of these policies:
1. Progressive and ambitious targets:
The Alternative and Renewable Energy Policy 2019 sets ambitious targets to increase the share of renewable energy in Pakistan’s energy mix to 30% by 2030. This policy is a significant step forward, providing a clear roadmap for the development of the renewable energy sector. The government’s commitment to these targets underscores its recognition of the critical role renewable energy plays in the country’s future.
2. Incentives and financial support:
Government policies have introduced various financial incentives to attract investment in the renewable energy sector. These include tax exemptions, subsidies, and tariff guarantees. Such measures are essential in reducing the initial costs and financial risks associated with renewable energy projects, making them more attractive to investors. The establishment of green financing mechanisms has further facilitated the growth of this sector.
3. Streamlined regulatory framework:
The government has made efforts to simplify the regulatory framework, making it easier for both local and foreign investors to enter the renewable energy market. Streamlining processes for obtaining licenses, approvals, and permits has reduced bureaucratic delays and enhanced the ease of doing business in the renewable energy sector.
4. International collaboration and support:
Pakistan has actively sought international support and collaboration for its renewable energy initiatives. By engaging with international financial institutions like the World Bank and the Asian Development Bank, as well as bilateral agreements with countries leading in renewable energy, Pakistan has secured funding, technology transfer, and expertise. These collaborations have been crucial in advancing large-scale renewable energy projects and ensuring their sustainability.
5. Focus on local capacity building:
Government policies have also emphasised the importance of building local capacity and expertise in the renewable energy sector. Initiatives to support education, training, and research in renewable energy technologies are helping to develop a skilled workforce. This focus on human capital is essential for the long-term success and sustainability of the sector.
6. Community and off-grid solutions:
Recognising the need to provide energy access to remote and underserved areas, government policies have supported off-grid and community-based renewable energy solutions. These initiatives are crucial for improving the quality of life in rural areas, reducing poverty, and promoting inclusive growth.
7. Challenges and areas for improvement:
While the government policies have been largely positive, there are areas that need further attention. For instance, consistent policy implementation and long-term political stability are crucial to maintaining investor confidence. Additionally, more efforts are needed to address the challenges related to grid integration and energy storage, which are critical for managing the intermittent nature of renewable energy sources.