Chinese Companies to set up Solar Panel and Lithium Battery production units in Pakistan: Fawad Chaudhry

One of the companies is a top Chinese battery manufacturer, Fawad Chaudhry revealed.

Buses that run on lithium batteries will also be made in the country.

Federal Minister for Science and Technology Fawad Chaudhry has announced that world’s major companies are all set to establish solar plant manufacturing facilities in Pakistan.

The minister said in a post on his twitter on Monday that a Chinese top battery manufacturer would setup a lithium battery plant in Pakistan. “The good news is lost in the political spectrum, yet I am very happy that world’s two major companies are setting up solar panel manufacturing plants in Pakistan and another major Chinese battery maker will set up a lithium battery manufacturer in Pakistan. Buses that run on those batteries will also be made in Pakistan,” he tweeted.

This is another good news for Pakistan’s economy after the country emerged as one of the biggest improvers in World Bank’s latest Ease of Doing Business Index 2020, jumping up 28 places on the index and clinching the 108th position, as compared to 136th spot last year.

Pakistan was among the countries to make the most notable improvement in Doing Business 2020, sitting alongside Saudi Arabia, Jordan, Togo, Bahrain, Tajikistan, Kuwait, China, India, and Nigeria.

“This rise is significant and made possible by collective and coordinated actions of Federal Government and Provincial Governments of Sindh and Punjab over the past year,” said Illango Patchamuthu, World Bank Country Director for Pakistan. “The accelerated reform agenda has many noteworthy features to improve quality of regulations, reduce time and streamline processes. This momentum needs to be sustained in the coming years for Pakistan to continue to make progress.”