ISLAMABAD, Oct 12: A government-run NGO by the name of ‘Alternative Energy Development Fund’ established to execute projects in clean energy has been granted license by the Securities and Exchange Commission of Pakistan (SECP).
The fund would provide enabling environment to investments in alternate and renewable energy in cooperation with local communities and NGOs working in the same sector.
The Alternative Energy Development Board (AEDB), Ministry of Water and Power, Petroleum Ministry and the Economic Affairs Division are stakeholders in the fund.
The AEDF is one of the 14 associations of non- profit, obtaining licenses from the SECP, under Section 42 of the Companies Ordinance, 1984, in the first quarter (July–Sept) of 2012-13.
The increase in the registration of non-profit associations by 18 per cent compared to the same period last year shows an increase in the awareness towards establishing companies, said an SECP official.
During the period July – September 2012-13, the education and health sectors took lead with nine licenses, whereas pharmaceuticals, arts, power generation, fuel and energy, and environment sectors got one license each.
In energy and fuel sector, Pakistan Association of Petroleum Geoscientists has obtained license to improve, advance and promote earth science, related to petroleum, natural gas, subsurface fluids and mineral resources in Pakistan.
Pakistan Green Building Council aims to create awareness for environment friendly, cost efficient and energy saving buildings.