Citi Pharma Ltd (PSX: CPHL) announced on Wednesday that it is transitioning from traditional energy sources to solar power.
‘In our continuous commitment to reducing our carbon footprint and embracing cleaner energy alternatives, we have made the decision to harness the power of the sun to fuel our operations. This transition aligns with our core values of innovation, sustainability, and corporate social responsibility,’ the company said in a notice to the Pakistan Stock Exchange (PSX).
CPHL said solar energy offers cost savings compared to traditional energy sources and it anticipates annual savings exceeding Rs. 100 million.
‘Our transition to solar energy will be executed in phases to ensure a smooth and seamless integration into our operations. We are partnering with reputable solar energy providers and experts to design and install state-of-the-art solar panels and infrastructure tailored to our specific needs,’ it added.
The principal activity of the company is the manufacturing and sale of pharmac
euticals, medical chemicals, and botanical products.
Source: Pro Pakistani