KEY POINTS
- Finance Minister assures full backing for the innovative programme
- Rs 2 billion first-loss guarantee allocated to encourage bank financing
- Pilot phase completed with 11 banks participating
- Climate Minister highlights benefits for low-income households and energy efficiency
ISLAMABAD: Pakistan has launched a nationwide Fan Replacement Drive ahead of the summer season, aiming to replace old, electricity-intensive ceiling fans with modern, energy-efficient models.
The programme seeks to reduce electricity demand, lower household bills and contribute to the country’s climate goals.
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has reaffirmed the government’s full commitment to the initiative, describing it as a critical step for energy conservation, fiscal responsibility and climate action.
The programme allows households to upgrade their fans through affordable monthly instalments, easing upfront costs and leveraging a Rs 2 billion first-loss guarantee to encourage bank participation.
Although formally launched this week, a pilot phase conducted with the State Bank of Pakistan and 11 commercial banks has already established proof of concept, resulting in 186 energy-efficient fans installed and Rs 1.35 million disbursed to 67 borrowers.
Officials said the digital enablement systems, financing mechanism and disbursement processes are operational and functioning effectively, with plans for rapid scaling in coordination with the central bank and commercial lenders.
Federal Minister for Climate Change Mussadaq Malik also spoke at the launch ceremony, underscoring the government’s emphasis on energy efficiency as part of its broader climate policy and highlighting the programme’s benefits for low-income households and overall energy consumption reduction.
