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ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) Saturday called for allocation of sufficient funds in the forthcoming budget for energy project and construction of dam and water reservoirs to tackle energy shortages.
Yassar Sakhi Butt, President ICCI addressing a meeting here said government should initiate various power projects to bridge supply and demand gap as it is high time to develop all available energy generating resources including hydel, thermal and wind to end the energy crisis.
He said that Pakistan is a country full of hydel potential but still Government was utilizing only 15 percent of it and economy was facing a loss of $ 15 million to $ 20 million per day due to energy shortages.
He said that the industrial sector could not wait for long and the government should present quick solution to fill in the gap between demand and supply of energy. He said that government should allocate more funds in upcoming budget for tapping Thar Coal potential because these reserves could play a pivotal role in meeting energy crises both in long term and short term which would enhance industrial competitiveness due to cost effectiveness.
Yassar Sakhi Butt said that government should also strive hard to attract foreign investors by giving them lucrative incentives to invest in energy projects in Pakistan, aiming to bring down expensive oil-based energy generation in the country.
He said that Pakistans electricity demand was increasing by 7 per cent annually and allocation of small amount of funds in last year budget 2011-12 for new dams and water reservoirs were insufficient.
ICCI President said that high power tariff, a burden on businesses and consumers, could be reduced by utilizing the available water resources more efficiently as the water is the most viable and cheapest way to produce electricity. Thus there was a dire need to safe enough water by adopting latest technology which makes better and efficient use of water resources, he emphasized.
