LAHORE: In recognition of the prevalent energy sector challenges, the Lahore University of Management Sciences (LUMS) and the National Energy Efficiency and Conservation Authority (NEECA) signed a Memorandum of Understanding to cooperate for undertaking research, development, and innovation in the field of energy efficiency and conservation. Managing Director of NEECA Dr Sardar Mohazzam graced the signing ceremony along with the Provost of LUMS, Dr Tariq Jadoon.

Speaking on the occasion, Director of Energy Institute LUMS Dr Fiaz Ahmad Chaudhry said that, though, demand side management of energy is at the core of all the possible solutions of the energy challenges being faced by Pakistan, it is often overlooked. He said that energy efficiency and conservation is the key to peak load management and can mitigate national challenges of capacity payments and circular debt in the energy sector.

Managing Director NEECA, Dr Sardar Mohazzam said that the ever-increasing prices of energy and the impending global recession demand an enhanced focus on the indigenization of the energy efficient technologies and capacities as well as inculcating a behaviour of energy conservation in the masses.

It was stressed by the MD NEECA that a critical mass of specialized knowledge and skilled local human resource in the domain of energy efficiency is absolutely necessary for the growth of this nascent energy efficiency market. For this, the collaboration between NEECA and LUMS will prove to be stepping stone in the effective implementation of energy efficiency and conservation.

Copyright Business Recorder, 2022