President of Korangi Association of Trade and Industry (KATI) Masood Naqi has urged the government to initiate construction of all undisputed water reservoirs across the Indus River. Applauding the initiatives taken by Prime Minister Nawaz Sharif for establishing water reservoirs and hydro power projects, he said that higher prices of energy is a big concern for domestic and industrial consumers.
He said that competition had become more cunning due to new trend of "protectionism" globally. He said in view of this scenario, expansion of country's exports had become a harder task, which couldn't be achieved without lowering cost of production. Masood Naqi further said that hydro energy is a better solution, it is more sustainable and production cost is lesser than other means of energy, which is much-needed to provide low cost electricity to the domestic and industrial usage.
Patron in chief of KATI, S M Muneer, said that approval of funds for long-awaited project of Diamir-Bhasha Dam and incentives for private investment in hydro energy sector would not only bring energy deficit on an end, but also would be helpful for provision of cheaper energy. He said that work on more dams, those are not disputed among the provinces, should be started to avoid water shortage in the country and to provide cheaper electricity to the domestic and industrial consumers as well.
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