President of the Lahore Chamber of Commerce & Industry Ijaz A. Mumtaz Saturday urged the private sector to utilize alternate resources of power generation to cut dependence on costly thermal means.
In a statement issued here, the LCCI President said that economic growth and cost of doing business has a direct relation.
“It is a good omen that government is working on various projects of alternate energy resources but there is a dire need to complete these projects on war footing as industrial sector needs cheap and sufficient electricity”, Ijaz A. Mumtaz said.
He said that Pakistan is producing a huge amount of energy through thermal means. Today we are happy for experiencing continuous decrease in crude oil prices in the international market and talking about cut in electricity prices but what we will do if prices of crude go to $ 150 after a few years? He said that cheap and sufficient energy is a must the growth of manufacturing sector and increase in industrial production otherwise country would become just a trading place instead of industrial hub.
Ijaz A. Mumtaz said that like the developed countries, government should promote alternate energy resources on war footing. He said that experts are saying that Pakistan can produce over 100000 MW electricity through solar, wind and coal means but these resources are being wasted cruelly.
LCCI President said that bio energy is a adaptable source that can be used to overcome electricity challenge besides making a considerable contribution to climate change phenomenon. He said that biomass energy has the potential convert a wide variety of wastes into clean energy besides being substitution for diminishing global oil supplies.
Ijaz A. Mumtaz said that bio energy can play a very vital role in production of carbon-neutral fuels of high quality. It can address many environmental issues, especially global warming and greenhouse gases emissions, and foster sustainable development among poor communities. Biomass fuel sources are readily available in rural and urban areas of all countries.
He said that we all are aware of the present challenges to our economy and especially the menace widely caused due to severe energy crisis. He said that it is indeed a matter of concern for us that our gas reserves are depleting with the passage of time. Be it domestic or industrial users all have to face shortage of gas in winter season.