'Energy affordability key for export growth'

Affordable and reliable energy is essential for Pakistan's industrial competitiveness and export growth, Lahore Chamber of Commerce and Industry (LCCI) President Faheemur Rehman Saigol said on Wednesday, as he welcomed the Cabinet Committee on Energy's approval of the National Integrated Energy Plan 2027-2060.

"Pakistan needs an energy policy that ensures reliability, affordability and predictability. Industry cannot compete internationally when energy costs remain high or supplies are uncertain," Saigol said. The LCCI president termed the plan a positive and important step toward building a more efficient, affordable, reliable and sustainable energy system in Pakistan.

He said bringing power, petroleum, gas and other energy sectors under a unified long-term planning framework could help address fragmentation, improve coordination among federal and provincial institutions and prevent unnecessary duplication of infrastructure and investment.

Saigol stressed that the plan's success would ultimately depend on its effective implementation and its ability to translate into tangible benefits for businesses and consumers.

The LCCI president said greater utilisation of indigenous energy resources, renewable energy and emerging technologies such as energy storage could help reduce Pakistan's dependence on expensive imported energy, ease pressure on foreign exchange reserves and improve energy security. Saigol called for meaningful consultation with the business community, particularly chambers of commerce, industrial associations and major energy-consuming sectors, during the formulation of the detailed plan.