Early resolution of Energy crisis urged: Tariq Sayeed

Islamabad, June 27, 2013 (PPI-OT): Mr. Tariq Sayeed, Vice President of Confederation of Asia Pacific Chambers of Commerce and Industry (CACCI), Founder and Former President of SAARC Chamber of Commerce and Industry and Former President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged the government to resolve the energy crisis on war footings by consolidating all available resources and save the national economy from total collapse as according to recently released economic survey, all its macro-economic indicators are showing downward trends. He elaborated that Asian Development Bank (ADB) in its study has revealed, “Losses arising from power and gas shortage held down GDP growth by 3 to 4 % over the past two years”.

He added that energy crisis has badly affected industrial process resulting in either closure of industrial units or operating at a low capacity utilization rate, thus increasing unemployment rate significantly besides giving negative signals to the potential investors both, local and foreign, and rendering the exporters to default in meeting their export commitments well in time due to shortage of production.

Mr. Tariq Sayeed cited the example of Thar Coal reserves which are claimed of resolving energy issue for next 500 years but not a single unit of energy could be generated from the ocean of energy lying untapped in Thar Coal field. In this respect he showing concern to the delay in exploitation of Thar Coal Energy Field mainly due to non availability of required fund despite successful experiment of coal gasification, urged the Prime Minister of Pakistan, Mian Muhammad Nawaz Sharif to provide funds for establishing a power plant for utilization of gas prepared from the field because the gas produced was going waste. He, in addition to it, said that Iran-Pak Gas pipeline is in the interest of the country and the people, therefore, the government should go ahead with this project irrespective of the international pressure because this project is aimed to address the energy problem of the country. He proposed that the government of Pakistan should make arrangements with the neighbouring countries to get the electricity from them and establish national grid station at its border.

Mr. Tariq Sayeed said that the peoples of Pakistan in general and the Business Community in particular expect with the new government as reflected in the heavy mandate that it would also reciprocate to their aspiration by addressing their genuine problems.

He hopped that once the energy issue is resolved, the economic activity would start in every nook and corner and every segment of the society would benefit from spill over the economic activity generated with catering to the energy needs of the country.

For more information, contact:
Syed Masood Alam Rizvi
Secretary General
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Karachi-75600, Pakistan
Tel: 0092-21-35873691, 93-94
Fax: +9221 3587 4332
Email: info@fpcci.com.pk
URL: www.fpcci.com.pk