ICCI calls for taking urgent measures to end power crisis

ICCI calls for taking urgent measures to end power crisis

ISLAMABAD (APP): Islamabad Chamber of Commerce and Industry (ICCI) has urged the government to take urgent measures to overcome the energy shortage as it would affect the economic activities besides making life of the common man more miserable in this sweltering heat.
Muhammad Shakeel Munir, President ICCI said in a statement expressed concerns over the power crisis in the country as the power shortage has reportedly shot up to 6000 to 7000 MW.
He said that menace of loadshedding had swept across the country leaving the businesses and the homes in the dark at a time when the temperatures were on the rise.
He said that the urban areas were reportedly experiencing 6 to 10 hours loadshedding and rural areas 8 to 16 hours loadshedding, which showed that the energy crisis had worsened in the country.
He said that the Prime Minister Shahbaz Sharif had assured to end the loadshedding soon, which was encouraging, but the situation demanded war footing measures to tackle this serious crisis.
The ICCI president said that energy was the key requirement for trade and industrial activities while the uninterrupted and affordable power supply was essential for accelerated economic growth of the country.
He said that the electricity was an important economic indicator as its availability or shortage encouraged or discouraged the local and foreign investors.
He said that the main reason of gap between demand and supply was the country’s dependence on fossil fuel for power generation. He urged the government to focus on increasing the hydropower and renewable energy share in the energy mix of the country, which was more cost effective and would bring down the cost of doing business significantly.
Jamshaid Akhtar Sheikh Senior Vice President and Muhammad Faheem Vice President, Islamabad Chamber of Commerce & Industry said that the government should take all possible measures to reduce its dependence on costly imported oil for energy generation and should focus on exploiting the cheap energy resources for power generation that would drastically reduce the oil import bill and reduce production cost. They also called for energy efficiency measures that would save huge capital, improve the economy and the environment. They further said that the energy-intensive industries should be encouraged to adopt energy efficiency measures that would give huge financial benefits.

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