‘Innovation, investments must for power sector’

Experts discuss underlying reasons for high cost of electricity in Pakistan

ISLAMABAD:

Leading power sector experts and thought leaders have underscored that Pakistan’s energy challenges can only be effectively addressed through innovation and strategic investments.

This pivotal insight emerged during a dynamic and interactive policy dialogue, titled “Revitalising Pakistan’s Power Sector,” jointly organised by the NUST US-Pakistan Center for Advanced Studies in Energy (USPCAS-E) and NUST University Advancement Office (UAO).

The dialogue encompassed a wide range of topics, including the transition to renewable energy, technological advancements, circular debt management, tariff structure balancing, international policy influence, investment strategies, resilient policy formulation, and collaborative regulatory considerations. The primary focus was to delve into the underlying reasons for the high cost of electricity in Pakistan and chart a course towards a sustainable and efficient energy future.

Principal of USPCAS-E, Dr Adeel Waqas, emphasised the pressing need to address Pakistan’s power sector challenges through innovative approaches and global cooperation. PPIB’s MD Shah Jahan Mirza provided valuable insights into Pakistan’s current energy mix, revealing that hydro contributes 23.58% of the electricity production, followed by Gas/RLNG at 29.61%, furnace oil at 16.18%, and coal at 16.10%. Nuclear and renewable energy account for 8.03% and 6.51%, respectively. He also highlighted PPIB’s future initiatives, including support to SBP in revising financing schemes for renewable energy.

Published in The Express Tribune, September 6^th, 2023.

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