KARACHI: Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance Mian Zahid Hussain said that due to line losses, capacity payments, and thefts, electricity is becoming more expensive.
Forcing people to avoid alternatives and use expensive electricity is a violation of their fundamental rights, so this process should be stopped, he said.
Mian Zahid Hussain said that it is important to attract consumers towards solar energy, make its equipment cheaper, and provide long-term interest-free loans to people, enabling them to use the solar energy.
He said that Pakistan is among the top countries in the world in terms of solar power potential. According to international experts, Pakistan can get 40% of its electricity requirement through solar energy, but instead of using this sector for public welfare, it is being used as a source of profiteering.
If other sources of renewable energy are adopted along with solar energy, there will be no need to generate electricity from imported oil, gas, or coal, and the country will also be able to export electricity.
Mian Zahid Hussain said that people whose businesses are related to oil, gas, coal and expensive electricity will never accept renewable energy.
The oil, gas, and coal mafias resisted solar power in dozens of countries, but the governments took decisions according to the public interest, which brought relief to the people and reduced environmental pollution, he informed.
Mian Zahid Hussain further said that the use of solar energy in Pakistan is less than 2%, while in India it is 16%. This sector cannot compete with other powerful energy sectors, nor can it flourish without the patronage of the government, but the rules for net metering of solar energy have been tightened. Pakistan has the distinction of being the only country in the world where 17% tax is also payable on solar components and installation, he said, adding that the cost of acquiring solar energy in the country has increased by 40 to 50 percent due to a shortage of semiconductors, increasing transportation costs, and the depreciation of the rupee. There is a need for easing and removing conditions, not tightening them and raising taxes.
Mian Zahid Hussain further said that there is great potential in hydropower and wind power in Pakistan, but it is not being given proper attention.
There is 3377 million metric tons coal in the country, but despite this, this gift of God is not being used in the way it should be; otherwise, electricity would not be so expensive.
Copyright Business Recorder, 2023
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