Electricity billing system with smart meters way forward to resolve issues: Speakers

ISLAMABAD: Speakers at a conference have said that improving Pakistan’s electricity billing system with smart meters is the way forward to reduce errors, better grid reliability, and empowered consumers.

Speaking at the Pakistan Institute of Development Economics (PIDE)-hosted 4th RASTA Conference here on Tuesday, they said that it was time to embrace smart solutions as smart meters can reduce billing costs by up to 57 percent and enhance grid reliability.

Afia Malik, senior research economist at PIDE, presented her research on improving efficiency in Pakistan’s electricity billing system. Malik’s study explored innovative approaches to reduce energy wastage and enhance the financial health of the energy sector.

She discussed the importance of technology adoption in billing processes and proposed policy interventions that could streamline operations, reduce losses, and ultimately lead to more sustainable energy consumption patterns.

Shahzad Kouser from COMSATS University, Islamabad said that Pakistan needs to explore markets for exporting halal beef as global demand for halal beef is ever increasing and Pakistan potentially can become a leading exporter. He said at present, Pakistan was exporting around $500 million halal beef annually but within a few years it can attain $2.5 billion mark. He identified key challenges, including adherence to international standards, logistical bottlenecks, and limited market access, which currently hinder Pakistan’s competitiveness in the global market.

Besides, he said some advanced technologies such as genetic selection and artificial insemination were efficiently changing the livestock sector across the globe. “Unfortunately, in Pakistan, we are not efficiently reaping the benefits of these methods.

We need to significantly improve cattle breeds to generate funds through exports.” As an agricultural country, he said Pakistan had a tremendous potential to become a major leader in beef exports. “We need modern farms equipped with round-the-clock monitoring systems to ensure animal health.” Kouser proposed a multi-faceted strategy to overcome these barriers, including improving standards compliance, enhancing supply chain infrastructure, and exploring new markets through targeted trade agreements.

Naveed Arshad from LUMS, Lahore, presented a compelling case for the IT sector as a significant driver of economic growth. Arshad highlighted the untapped potential in software exports, emphasising the need for strategic investments in education and infrastructure.

He advocated for policy reforms aimed at creating a more conducive environment for IT businesses, which could significantly boost Pakistan’s standing in the global IT market. His proposals included upskilling the workforce, improving internet infrastructure, and offering tax incentives to attract foreign tech firms to invest in Pakistan.

The session was moderated by Zafarul Hasan, joint chief economist Ministry of Planning, Development and Special Initiatives, who provided additional context and facilitated discussions on how Pakistan could effectively position itself in these emerging global markets.

Dr Nadeemul Haque, Vice-Chancellor PIDE, emphasised the essential role of research in policy development. He noted that the conference featured presentations of cutting-edge research, including studies on the mental health and well-being of healthcare professionals, the potential of Pakistan’s IT industry for software export growth, and the impact of government policies on olive production.

In addition to the technical sessions, the conference included showcase sessions highlighting significant projects, such as improvements in Pakistan’s electricity billing system and findings from the 2024 round of the Pakistan Panel Household Survey (PPHS).

Kazi Afaq Ahmed of Institute of Business Management, Karachi speaking at the session, titled “Education and Healthcare” said that Pakistan’s pharmaceutical sector stands at a critical juncture, with only 10 percent of its Active Pharmaceutical Ingredients (API) needs met locally.

A robust strategy to boost local API production is essential to reduce import dependency and enhance self-sufficiency. Pakistan desperately needs to build a stronger and more resilient pharma industry, he said.

In his presentation on the pharmaceutical industry in Pakistan Ahmed’s study provided an in-depth analysis of the manufacturing of API, emphasising the country’s heavy reliance on imports. Ahmed highlighted the necessity for strategic investments in local API production, which he argued would not only reduce import dependency but also stimulate growth within the sector. His research pointed towards a comprehensive industrial policy that could foster domestic capabilities and promote self-sufficiency in pharmaceutical manufacturing.

Mir Muhammad Shah from Sukkur IBA University, while presenting a study focusing on the mental health challenges faced by healthcare professionals in Pakistan, said healthcare professionals in Pakistan are facing critical mental health challenges due to resource shortages and overwhelming workloads.

Strategic investments in infrastructure, training, and support systems are urgently needed to protect their well-being and improve healthcare delivery, he said.

Shah’s research underscored the severe impact of resource shortages, such as inadequate staffing and insufficient mental health support systems, which contribute to the high levels of stress and burnout among healthcare workers.

He proposed several policy recommendations, including the implementation of a General Practitioner (GP) system that could alleviate pressure on specialists and a national initiative for enhanced training of healthcare providers to better manage stress and improve overall healthcare delivery.

Aamer Raza from the University of Peshawar critically deliberated on the 18th Amendment’s impact on Pakistan’s higher education system. His analysis focused on the governance and funding challenges that have emerged since the devolution of powers to the provinces.

Raza argued that the decentralisation has led to inconsistencies in educational standards across regions and created significant hurdles in terms of funding allocation.

He suggested a re-evaluation of the amendment’s implementation, advocating for stronger federal oversight to ensure uniformity and quality in higher education. Rafiullah Kakar, Member of the Social Sector, Ministry of Planning and Development synthesising the insights from the presentations and emphasising the need for integrated policy approaches to address the multifaceted challenges in education and healthcare.

Syed Twangar Hussain Kazmi from Torque Communities, Islamabad, while speaking on a session centered on “Investment Strategies” said that provided a roadmap for leveraging Foreign Direct Investment (FDI) to spur local innovation and economic growth.

Drawing on examples from East Asian economies, Kazmi highlighted the importance of creating a favourable investment climate through policy stability, infrastructure development, and innovative financing mechanisms. Abdul Wahid from NUML, Islamabad, discussed the alarming trend of decapitalisation in the Pakistan Stock Exchange (PSX).

Wahid identified several factors contributing to this trend, including regulatory inconsistencies, political instability, and market volatility, which have driven firms to delist. He proposed policy interventions to stabilize the stock market, such as enhancing corporate governance, improving market transparency, and offering incentives to encourage firms to remain listed.

Nabila Aftab from the University of Peshawar in her presentation said that the impact of political instability on corporate investment decisions in Pakistan. Aftab’s research provided a nuanced understanding of how political uncertainties deter investment, leading to reduced economic growth.

She recommended strategies to create a more stable investment environment, including political reforms and confidence-building measures to reassure investors.

Ahmed Waqar Qasim, senior research economist at PIDE, emphasised the need for sustained policy efforts to attract and retain investment in Pakistan. Qasim called for a holistic approach to economic reform that includes both short-term stabilising measures and long-term growth strategies.

Copyright Business Recorder, 2024