Expectations: LCCI wants budget to reflect govt’s focus on energy
Chamber chief believes country’s energy mix needs overhaul.
Chamber chief believes country’s energy mix needs overhaul. CREATIVE COMMONS
LAHORE:
As the budget 2015-16 looms closer, the Lahore Chamber of Commerce and Industry (LCCI) has expressed hope that the government will keep its focus on resolving the energy crisis that has crippled the economy.
LCCI President Ijaz A Mumtaz, while presiding over the LCCI Executive Committee meeting on Tuesday, said that policymakers would have to address the concerns of the business community since they suffer the most as a result of the power crisis.
Mumtaz informed that in Bangladesh, provision of energy to the trade industry is a top priority and that is one of the reasons why their exports are growing at a good pace.
He said that in order to tackle the energy shortage, the government has to allocate funds for construction of dams including Kalabagh, water reservoirs and Thar coal project. “At least 10% of the total budget should be allocated to hydel power projects.”
The LCCI president believed that the country’s reliance on costly thermal power is increasing the cost of production and the import bill as well. Therefore, the country needs an urgent change in its energy-mix in favour of hydel power and alternate energy sources.
He suggested the use of biogas for the agriculture sector — both for electricity generation and gas for cooking besides producing bio fertiliser.
Mumtaz said that over 185 billion tons of Thar coal reserves are enough to provide 100,000MW of electricity for 100 years. “Even though the government is making efforts in this sphere, plans need to be accelerated,” said Mumtaz.
The official also hoped that funds would also be made available for the LNG terminals to keep the industrial wheel running especially in Punjab.
Published in The Express Tribune, April 29th, 2015.
As the budget 2015-16 looms closer, the Lahore Chamber of Commerce and Industry (LCCI) has expressed hope that the government will keep its focus on resolving the energy crisis that has crippled the economy.
LCCI President Ijaz A Mumtaz, while presiding over the LCCI Executive Committee meeting on Tuesday, said that policymakers would have to address the concerns of the business community since they suffer the most as a result of the power crisis.
Mumtaz informed that in Bangladesh, provision of energy to the trade industry is a top priority and that is one of the reasons why their exports are growing at a good pace.
He said that in order to tackle the energy shortage, the government has to allocate funds for construction of dams including Kalabagh, water reservoirs and Thar coal project. “At least 10% of the total budget should be allocated to hydel power projects.”
The LCCI president believed that the country’s reliance on costly thermal power is increasing the cost of production and the import bill as well. Therefore, the country needs an urgent change in its energy-mix in favour of hydel power and alternate energy sources.
He suggested the use of biogas for the agriculture sector — both for electricity generation and gas for cooking besides producing bio fertiliser.
Mumtaz said that over 185 billion tons of Thar coal reserves are enough to provide 100,000MW of electricity for 100 years. “Even though the government is making efforts in this sphere, plans need to be accelerated,” said Mumtaz.
The official also hoped that funds would also be made available for the LNG terminals to keep the industrial wheel running especially in Punjab.
Published in The Express Tribune, April 29th, 2015.