China-Pakistan Economic Corridor (CPEC) energy projects have improved the electricity sector in Pakistan and contributed to economic growth by increasing power supply with high efficiency and at lower cost, remarked Tauseef H Farooqi, said Chairman of National Electric Power Regulatory Authority (Nepra).
According to Farooqui, total installed capacity of CPEC energy projects, including that of coal, wind, solar and hydroelectric power, stands at 6,570 megawatts. They have generated 28,549 gigawatt-hours (GWh) and 25,772 GWh of electricity in financial years 2020-21 and 2021-22 respectively, accounting for 22.03% and 18.37% of the total power generation in Pakistan.
The average 20% annual addition to the national grid has alleviated rampant cases of load-shedding and especially powered the export-oriented industries. Pakistan’s energy sector is mainly dependent on imported fuel (oil and liquefied natural gas – LNG).
“As CPEC energy projects replaced the costlier energy production from furnace oil and diesel to coal and renewable energy resources in the last five years, the energy needs have been fufilled at lower prices, driving growth in the export-oriented industries,” the Nepra chairman emphasised in an interview with China Economic Net (CEN).
THE ARTICLE ORIGINALLY APPEARED ON THE CHINA ECONOMIC NET.
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