ISLAMABAD: The All Pakistan Business Forum (APBF) has urged the government to harness vast potential of renewable energy sources to overcome energy crisis in the country.
A robust new opportunity has been created for off-grid applications of renewable power technologies, as a large number of Chinese investors, engineers and experts is currently engaged in building large projects under the China-Pakistan Economic Corridor (CPEC). APBF President Ibrahim Qureshi said, “The current power shortfall in Pakistan is around 4,500MW to 6,000MW and is estimated to cost the economy more than two percent of GDP annually, whereas the power demand is growing at about eight percent per annum. This factor is consistently hampering economic growth. Pakistani entrepreneurs can seek resourceful solutions from the Chinese experts to curtail the energy challenge.”
He said the primary scope of renewable technologies consisted of solar and wind power generation. “Moreover, the Chinese companies can also help rural and remote communities in installing independent solar tube-wells, biogas milk chiller plants and windmill farms for domestic lighting and other essential uses to enhance energy security.” Pakistan can greatly benefit from the Chinese engineering enterprises and experts in the country; thus ensuring a cleaner, greener and energy abundant future, he added. It may be mentioned that the government of Pakistan has already offered numerous incentives and regulatory support to provide technological and financial assistance for the alternate energy arena.
