Federal govt urged to reduce reliance on fossil fuels

Businessmen demand focus on renewable energy to boost industry and trade

ISLAMABAD: The business community of Islamabad urged the government to take all possible measures to reduce its reliance on fossil fuels and exploit untapped hydro energy sources for power generation in order to provide cheap electricity for industries.

They stated that this would make goods more competitive for local consumption as well as for exports.

The officials said that it was high time the government shift from conventional to renewable energy sources and focus on developing industry and promoting trade.

In a statement, Islamabad Chamber of Commerce and Industry (ICCI) President Ahmed Hassan Moughal said that businessmen were facing problems due to multiple factors, allowing another average increase of 54 paisa per unit in power tariffs would negatively impact the sector.

“It would further push up the production cost, raise inflation and make exports uncompetitive in the international market,” he added.

He urged the government to reconsider the notification by the National Electric Power Regulatory Authority (Nepra). Moughal added that Pakistan’s heavy reliance on fossil fuels for energy generation was the main reason behind its high cost of doing business.

Published in The Express Tribune, September 29^th, 2019.

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