Pakistan Industrial and Traders Associations Front urges Government to promote alternate energy resources
Lahore, October 04, 2013 (PPI-OT): Following is the text of press release issued by Pakistan Industrial and Traders Associations Front
Pakistan Industrial and Traders Associations Front (PIAF) on Friday urged the government to announce incentives for the promotion of alternate energy resources as the costly thermal electricity is hitting the manufacturing sector hard.
The demand was raised by the PIAF Chairman Malik Tahir Javaid while talking to a three-member delegation of Atari Industrial State here at PIAF office. The delegation comprising Adnan Butt, Mubashir Tanseer, Khawaja Shahzab Akram remained with the PIAF Chairman and discussed a host of issues including recent hike in the prices of electricity and petroleum products. The PIAF Vice Chairman Amjad Ali Jawa was also present in the meeting.
The PIAF Chairman said that Pakistan is a resourceful country having huge potential to produce electricity from coal, solar and wind means and a little attention by the government could help save precious foreign exchange being spent on import of oil.
Malik Tahir Javaid said that a number of developed countries are producing electricity from alternate resources but the previous governments paid no attention toward this area and caused irreparable loss to the economy.
According to rough estimates, value of coal reserves in Pakistan is around $ 30 trillion that is 187 times more than the GDP of Pakistan. Yes, the worth of our coal reserves is higher than the combined oil reserves of Saudi Arabia and Iran. Only 2% of Pakistani coal reserves could generate 20,000 MW electricity for almost 50 years.
The PIAF Chairman said that the United States was producing 80% electricity through coal, China 70% and India 50% electricity through coal.
“Had the promotion of alternate energy resources been taken into account in the last ten years, Pakistan would have been an energy rich country today.”
The PIAF Chairman said that the things went out of hands when rental power projects came to Pakistan. This was actually the beginning of the storm, the entire nation is caught in today.
The PIAF Chairman said that the government should allow duty free import of solar panels and other equipment so that the people could avail cheaper solar energy that would certainly curtail burden on traditional system.
The leader of the Attari Industrial Area Association delegation Adnan Butt informed the PIAF Chairman of the problems being faced by the business community in Pakistan. He said that they are unable to finalise export orders as the cost of electricity is revised upwards every now and then.
He said that the increase in the prices of major industrial raw materials including electricity and gas had deprived Pakistani businessmen of huge export orders as the neighbouring countries were ready to sell their products at much cheaper rates.
He said that the Prime Minister Mian Nawaz Sharif and Chief Minister Mian Shahbaz Sharif should issue necessary directions for implementation of new economic policies for the sake of progress and prosperity in the country.
He said that consultation with the private sector should be ensured in the process of policy making so that the economic targets could be achieved.
He, however, thanked the PIAF Chairman for giving a patient hearing to their problems and hoped that the policy makers would come up with a solution at the earliest.
For more information, Contact:
Pakistan Industrial and Traders Associations Front
110/s Kot Lakhpat Industrial Estate
Phone: (92) 42 5123522
Fax: (92) 42 5123522
Category: General Business News