SAARC official highlights energy concerns

Emphasises need for frequent exchange of trade delegations.

ISLAMABAD: The Saarc Chamber of Commerce and Industry (CCI) has expressed hope that the government would be able to overcome the ongoing energy crisis as the policy measures adopted during the past one year are now showing positive results.

“Pakistan is rich in both tapped and untapped natural resources – like minerals, natural gas, precious stones, and gems – which are worth trillions of dollars and are just waiting to be explored,” said Saarc CCI Vice President (Pak-Chapter) Iftikhar Ali Malik in an interview.

Malik also noted that financial agencies that were reluctant to provide assistance to Pakistan are now not only providing financial backing but also directing investors towards the country. He said that the objective of the chambers is that the trade between Saarc member countries should increase substantially.

He expressed the hope that the trade between India and Pakistan would double in a year with the removal of non-tariff barriers. He also emphasised the need for frequent exchange of trade delegation between Saarc member countries.

He said that the private sector and other interested parties who can help in generating electricity should be invited for such projects in the country.

He was of the view that the country can save $20 million annually by producing power through coal, wind and solar sources.

Malik noted that in the past nine years, power demand has increased by 17%. “We need to increase power generation at a faster pace,” he said.

Published in The Express Tribune, October 2^nd, 2014.

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