Lahore Chamber of Commerce and Industry for allocation of sufficient funds for energy sector in the Federal Budget 2015-16
Lahore, June 03, 2015 (PPI-OT): The Lahore Chamber of Commerce and Industry has hoped that sufficient funds would be allocated for the energy sector in the Federal Budget 2015-16 to bridge the gap between energy demand and supply.
In a statement issued here, the LCCI Senior Vice President Mian Nauman Kabir said that provision of energy to the trade and industry is the priority of the present regime and upcoming budget should reflect the government’s endeavours aimed at enhancement of power generation.
Mian Nauman Kabir said that government has to plan for enhancement of power generation through hydel means as the country’s reliance on costly thermal power is jacking up the cost of production and the import bill as well. The country needs an urgent transfer in its energy-mix in favour of hydel power and alternate energy resources.
Mian Nauman Kabir said that over 185 billion tons of Thar coal reserves are enough to provide 100,000 MW of electricity for 10 decades. Though government was doing a lot at this front but efforts should be accelerated as the uninterrupted and affordable power supplies can turn Pakistan into an economic powerhouse.
The LCCI President also hoped that maximum funds would also be made available for LNG terminals to keep the industrial wheel running especially in Punjab that has borne the brunt of recent suspension of gas supplies to industry in the country.
He said that rising risk perception about investing into Pakistan is hitting hard the Foreign Direct Investment (FDI) and it would affect the economic growth of the country. He said that this issue should be tackled through a comprehensive policy approach by involving Chambers of Commerce in the country.
The LCCI Senior Vice President said that a number of sectors in Pakistan including infrastructure development, coal, energy, agriculture, livestock, textiles and pharmaceutical offer lucrative investment opportunities to foreign investors but unfortunately due to absence of a proper and well tailored marketing strategy, these opportunities are unattended even today.
For more information, contact:
Lahore Chamber of Commerce and Industry (LCCI)
Lahore -54000, Pakistan