Pakistan: Steps Into Shaping A Secure Energy Future – OpEd |
The energy crisis in Pakistan is generally consumed in putting out fires on short term basis. We talk of tariffs and fuel shipments and to whom is owed and what, but the greater evil is still rising. The system of power is expensive and prone to the surge of imported fuel and indulges itself in circular debt that currently sits on top with approximately 2.6 trillion. The intervention of the UN ESCAP that provides policy suggestions and technical assistance to the matter is not a donor headline in that case. It is a sign that change of energy in Pakistan is no longer a good idea, but an economic necessity and that serious participants are willing to assist in shaping out a plan that the investors will trust.
This is noteworthy because energy security in Pakistan is no longer about ensuring that the lights are on. It is alarming to keep the economy afloat. Once the world oil or LNG prices soar the import bill of Pakistan bursts, the rupee is smitten out, inflation ensues and industry is retarded. Include climate stress, flooding, heat waves and water risks and the ancient model is even further compromised. The move to domestic renewable decision cannot be termed as an environmental one. It is among the ways of diminishing the contact with the world fuel markets, lowering the stretching of the funds, and contributing to the steady growth.
The intervention of UN ESCAP requested by the........