Dialogue underlines need for energy self-reliance

Experts advocate cut in electricity cost through employing low-cost resources

KARACHI:

Experts and stakeholders have stressed the importance of cutting electricity costs through employing low-cost local energy resources and increasing the share of renewable energy as competitive tariffs ensure a sustainable economic growth.

At a dialogue titled “Promoting localisation and harnessing indigenous resources for sustainable energy”, organised by the Overseas Investors Chamber of Commerce and Industry (OICCI), experts said self-reliance in energy by embracing domestic resources for power generation would propel Pakistan towards fortified economic resilience.

Former special assistant to the prime minister on CPEC Khalid Mansoor underlined the significance of achieving national energy security by minimising energy imports and improving the balance of payments.

He highlighted the need for integrated planning and coordination among government bodies with a strong focus on long-term environmental sustainability, energy efficiency and conservation.

“Timely approval of the Competitive Trading Bilateral Contract Market (CTBCM) and wheeling regulations is also deemed crucial, along with the commitment to uphold competitive tariffs to fuel the growth of energy industry.”

Mansoor’s speech pointed to the intricate interplay of an imbalanced fuel mix, escalated power generation costs, sluggish growth in local power sources, unabated energy wastage and insufficient recoveries.

Published in The Express Tribune, August 25^th, 2023.

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