The Islamabad Women Chamber of Commerce and Industry (IWCCI) on Tuesday stressed the need for establishing coal ministry for the exploration of Thar Coal Reserves.
The chamber highlighted that Thar Coal Reserve which has approximately 175 billion tonnes of coal is the sixth largest coal reserve in the world. It was discovered 23 years ago and has the potential to meet the fuel requirements of not only Pakistan but its neighbouring countries as well, said the chamber’s spokesperson.
IWCCI President Farida Rashid said, “Pakistan has emerged as one of the leading countries of the world after the discovery of huge lignite (brown) coal resources placing her seventh in the list of top 20 countries.”
Speaking to the business community she said that different federal and provincial departments, battling over petty matters, have only wasted time and funds worsening the situation and future of the country.
She noted that despite decades of efforts, Pakistan is yet to claim any success on coal front therefore it should find an alternative solution to find support of other countries. Farida Rashid said that coal has met with nearly half of the rise in global energy demand over the last decade, growing faster than total renewable resources, while there are 1,004 billion tonnes of coal reserves left which is equivalent to 130 years of global output. Coal use in India continues to rise and by 2025 it will overtake the United States as the world’s second-largest user meaning that it will need to import more coal while Thar coal may be most economical for her. Currently India imports coal from Indonesia, South Africa and Australia to satisfy annual deficit of 204 million tonnes. According to World Coal Association, presently India is producing around 585 million tonnes of coal while importing 105 million tonnes and exporting none. Furthermore she added that converting captive power plants on coal may settle gas crisis while conversion of state-run power plants can resolve issue of budget deficit. Pakistan’s economy’s steady drift towards collapse can be averted if a powerful coal ministry or a regulatory authority is established, she said. Farida termed statement of Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi on Thar coal and Iran gas pipeline project highly encouraging.
