Pakistan’s resources can tackle power crisis, say experts

If used efficiently, the country could transform into one of the ‘Asian Powers’

LAHORE: Experts have expressed faith in Pakistan’s indigenous resources to tackle the on-going power crisis and have termed the government’s efforts as a ‘huge opportunity’ for investors in the sector.

In a conference related to the power and energy sector organised by MARSH - a global leader in insurance broking and risk management - over 20 delegates from around the world presented papers on topics ranging from risk management, challenges for renewable and alternative energy and energy losses.



MARSH Energy and Power Insurance Global Chairman Andrew George spoke about the investment potential in Pakistan, especially in the energy sector. “Pakistan has abundant indigenous resources to cope with the energy deficit which will enable the country to transform into one of the ‘Asian Powers’,” he said, adding that the current economic indicators reflected Pakistan’s potential as an attractive market for investment in power and insurance.

Talking about insurance products pertaining to the energy sector, Marsh Pakistan Unique Insurance Brokers Managing Director said currently, this industry in Pakistan was ramping and had great potential due to the positive role of the regulator.

“Every project in the power sector is challenging for the insurance industry, whether its gas turbines, hydel or transmission lines, but solutions are always available,” he said. “Many big companies do not provide 100% information about their projects, therefore taking up their claims becomes difficult for the insurance sector.



Also present, Rousch Pakistan Company Secretary Mohammad Junaid Asghar said the government’s recent power policy had given a platform to new investors to invest in the sector. “Bringing Liquefied Natural Gas (LNG) to Pakistan for Independent Power Producers (IPPs) is the greatest thing the government has done so far,” he remarked.

Published in The Express Tribune, November 18^th, 2015.

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