Lives of tens of millions in Pakistan and the whole Saarc region can be transformed by giving masses access to affordable energy, said Islamabad Women's Chamber of Commerce and Industry (IWCCI) on Sunday. Farida Rashid, President IWCCI said that Saarc was the most energy-deficient region in the world which has made it home to the majority of the poor living on earth.
She added that Pakistan's economy also suffered a lot due to poor planning in meeting energy demand and supply. She said that energy scarcity can be tackled by making best use of Thar coal which has become imperative.
While addressing the representatives of Business community, she said that proper management and use of Thar coal can resolve issues like stagnant economic progress, distribution of wealth, high unemployment, soaring inflation and rising oil import bill.
She said that at the 12th SAARC Summit, the heads of states agreed to strengthen energy co-operation for accelerated and balanced economic growth but little progress has been made in the last nine years which created sever energy crisis in the country that will take at least three to four years revive industrial progress. Rashid said that all the members of Saarc except Bhutan were energy deficient and oil importing countries which will face a minimum of 200 percent hike in energy demand in the next 14 years.
In the region, 29 percent of energy demand is met with oil, 48 percent with coal, 15 percent with natural gas, 7 percent with hydel and one percent with nuclear power, she said adding that energy mix of majority of the countries is not sustainable.
Farida Rashid said that it was very important to explore all possible options to ensure and enhance regular supply of energy to support the economic growth and help alleviate poverty in the region especially in Pakistan.
Further delay in exploitation of Thar coal will have very negative consequences for Pakistan, the IWCCI President warned.
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