PRIME MINISTER Shehbaz Sharif’s recent directive to the energy sector to curtail Pakistan’s staggering $27bn oil import bill through robust renewable energy management is a long overdue step given our precarious financial situation. The transition to renewable energy sources like solar, wind, and hydel would undeniably shed our unsustainable reliance on oil imports. The transition would not only mitigate the fiscal haemorrhage caused by oil imports but also liberate us from the grip of the crude oil tanker ‘mafia’, which the PM has characterised as parasitic entities devouring national resources. Additionally, he has highlighted the need for all provinces to put a stop to power theft — an administrative problem — which is significant contributor to power losses.

These crucial measures require unwavering commitment and careful implementation. The instructions to get world-class consultants on board in order to boost the country’s power transmission highlights the need for technical expertise in overhauling our aging grid, which adds to the high cost of energy because of distribution losses. Without this, any advancement in power generation would be futile. Moreover, the shift from imported to local coal, while beneficial in reducing foreign currency expenditure, must be approached with caution considering the environmental implications. A balanced approach that gradually phases out coal in favour of cleaner alternatives is advisable. There is also a pressing need for more ambitious initiatives. For instance, incentivising private investment in renewable projects could accelerate the adoption of greener technologies. To that end, a comprehensive policy aimed at enhancing energy efficiency across industrial, commercial, and residential sectors would complement the shift to renewables. One hopes that this new focus on sustainable energy use is not lost and translates into concrete action. Only through persistent effort can we hope to see a meaningful reduction in our reliance on imported fuels. The health of our economy and the well-being of our future generations depend on it.

Published in Dawn, April 17th, 2024