United International Group (UIG) Chairman Mian Shahid on Sunday lauded the government efforts to overcome energy crisis. The efforts of the government will soon start paying dividends, however, Hydel power should be preferred over other modes as it was the cheapest source of electricity, he said.
Shahid said that energy crisis was result of neglect spanning over decades but now the situation was improving. He said Pakistan was satisfying 32 percent of its energy demand through imported fuel which was not sustainable. Energy mix should be rationalised so that the issue of circular debt could be resolved otherwise it will continue to hamper growth and discourage investment in energy sector, he added.
Energy sector required proper investment, planning and upgradation of primitive transmission and distribution system, he observed. He called upon the government to design an energy preservation plan and promote Hydel power which was imperative for the future of country.
Shahid said that Hydel power was also the least expensive form of electricity. The potential for hydropower generation in Pakistan is of the order of 40,000 MW. The capacities of the three existing reservoirs of the Indus Basin including Tarbela, Mangla and Chashma were declining due to sedimentation, he added. The live storage capacity of the three reservoirs had been reportedly reduced by about 20 percent, he alleged.
