Latest news with #Rs160-165
Express Tribune
18-04-2025
- Business
- Express Tribune
Uncertainty clouds solar sector
The government's recent decision to reduce the buyback rate for excess solar power from Rs27 to Rs10 per unit has sparked widespread concern across Pakistan's solar energy sector, significantly dampening consumer interest and slowing the pace of new installations. Industry stakeholders, including solar system importers and vendors, warn that the lack of a clear and consistent net metering policy has eroded market confidence. Traditionally, solar system demand peaks ahead of summer as households and businesses prepare for rising power costs. This year, however, has bucked the trend, with many companies reporting sluggish sales despite record-low prices for solar equipment. Speaking to The Express Tribune, Rehan Adnan Qureshi, the CEO of a solar energy company, said the expected seasonal surge in demand has failed to materialise. "Every year, we see a sharp increase in demand as summer nears. This time, uncertainty around net metering has made consumers hesitant," he explained. Qureshi noted that global market dynamics, especially a production surplus in China, have significantly reduced solar panel costs, creating favourable conditions for buyers. "Solar systems are more affordable than ever. But due to policy ambiguity, people are reluctant to invest," he added. Currently, Grade-A solar panels coupled with branded inverters are priced between Rs100 and Rs120 per watt - down from Rs160-165 just a few years ago. Market data shows that a 5-kilowatt (KW) system now costs about Rs600,000, while a 10-KW setup is priced at Rs1.15 million. Larger 15KW and 20KW systems cost around Rs1.4 million and Rs1.8 million, respectively. Muhammad Hanif, another solar equipment importer, confirmed the continued drop in prices, with costs falling by Rs1 to Rs3 per watt in recent weeks. However, he noted a shift in consumer behaviour. "There is increasing interest in hybrid solar systems with battery storage. People prefer storing energy for personal use rather than selling it back at the new, reduced rate," Hanif said. Battery sales have seen a notable rise as more users pursue self-sufficiency. "The Rs10 per unit buyback rate simply doesn't justify selling power to the grid anymore," he added. The industrial sector is also facing headwinds, as the National Electric Power Regulatory Authority (NEPRA) delays approvals for power purchase agreements, adding further uncertainty to the market. With stakeholders sounding the alarm, the solar energy industry is urging the government to provide clarity and transparency on net metering regulations. Without a stable and supportive policy framework, experts warn, the significant progress made in renewable energy adoption could begin to unravel. According to the Global Electricity Review 2025 by UK-based energy think tank Ember, Pakistan imported a record 17 gigawatts (GW) of solar panels in 2024 - more than double the previous yearplacing it among the world's top solar markets.
Express Tribune
14-03-2025
- Business
- Express Tribune
Sugar price surges in city
The price of white refined sugar has risen by up to Rs25 per kilogramme since the start of Ramazan, as hoarding, profiteering and ineffective price regulation continue to disrupt the market. Consumers across Punjab are paying varying prices for the commodity, with significant disparities observed between the open markets, model bazaars and government-designated sugar sale points. A market survey revealed that at the beginning of the fasting month, sugar was available for Rs156-160 per kg at most retail outlets. However, the have surged to Rs160-165 per kg in wholesale markets and Rs180-185 in retail stores. Despite government efforts to stabilise prices, sugar is currently selling at Rs130 per kg at makeshift sale points, Rs153 at Utility Stores, Rs160-165 in model bazaars and Rs180-185 in open markets, highlighting a fragmented pricing structure. Critics argue that the government's inconsistent pricing policies have created distortions in the market, allowing hoarders and profiteers to exploit the situation amid heightened demand during Ramazan. "Every year during Ramazan, we face the same issue. Prices skyrocket, and no one takes responsibility. The government announces subsidies, but retailers charge whatever they want," said Aftab Ahmed, a shopper at a local market. Shopkeepers, on the other hand, claim they are also victims of the volatile pricing system. "We are buying sugar at inflated rates from wholesalers, so we have no choice but to pass the cost on to consumers," said Tariq Mehmood, a grocery store owner in Lahore.
