SIFC revives JJVL plant in major boost for Pakistan’s energy security

WEB DESK: The Special Investment Facilitation Council (SIFC) has successfully facilitated the revival of the Jamshoro Joint Venture Limited (JJVL), marking a significant achievement in Pakistan’s efforts to strengthen its energy sector.

The restoration of the JJVL plant, a key national asset, comes after years of closure that had deprived the country of vital local liquefied petroleum gas (LPG) production.

According to officials, the shutdown resulted in the loss of 317,000 tons of domestically produced LPG, causing financial losses estimated at Rs94b.

The revival is being hailed as one of the SIFC’s most notable accomplishments over the past three years. The council’s intervention played a pivotal role in navigating complex challenges to bring the facility back into operation, underscoring its mandate to fast-track critical investment and industrial projects, according to Radio Pakistan.

Iqbal Zafaruddin Ahmed, Chairman of the Associated Group, emphasised the importance of SIFC’s support. “It would not have been possible to restore this project of national importance without SIFC’s guidance,” he said.

He added that the operational plant is expected to save Pakistan approximately $200 million in foreign exchange annually by reducing reliance on imported LPG.

The development is seen as a step towards enhancing energy self-sufficiency and easing pressure on the country’s balance of payments.