August 05, 2016
President Pakistan Businessmen and Intellectuals Forum (PBIF), President AKIA, Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister Mian Zahid Hussain on Friday asked the government to promote efficient use of electricity and focus on renewable energy.
China is producing 140,000 megawatt of electricity through renewables therefore Pakistan can benefit from its experience, he said.
Mian Zahid Hussain said that a recent report has indicated losses due to loadshedding to the extent of seven percent of the GDP as average power shortfall remains 4000 mw while average gas shortfall is at 2000 cubic feet translating into losses of Rs14 billion per annum.
Mian Zahid said that weaknesses in the transmission and distribution system has resulted in the losses of Rs 145 billion within last five years. Domestic demand continue to increase by 10 percent annually therefore serious efforts are needed to bridge gap between supply and demand.
He quoted the report as saying that investment in the power sector has been reduced from 1.5 percent of the GDP to 0.5 percent as compare to 80’s and 90’s.
Sixty percent households are using UPS costing them thirty billion rupees annually. There are almost 1.2 million tube wells and pumps in the country of which 90% are in the province of Punjab using diesel therefore this province must take lead in energy conservation.
The Veteran Business Leader stated that China is world leader in power generation from renewables therefore Pakistan can seek her help to mitigate energy crisis. He further informed that energy projects of around 10,000 MW are in pipeline but their completion is halted through controversies, which should be discouraged.