KARACHI: President of Karachi Chamber of Commerce and Industry (KCCI) Muffasar Atta Malik has said that federal government needs to rethink its energy policy shifting towards more feasible options for generation of electricity.

“As heavy oil imports are a major cause of rising trade deficit and Pakistan’s oil and natural gas reserves are also depleting rapidly; therefore, it is necessary that dependence over fossil fuel should be reduced,” he said, speaking at the ‘Top Management Awareness Training Session on Renewable Energy and Energy Efficiency,’ organized by United Nations Industrial Development Organization (UNIDO).

Malik said since oil prices are gradually soaring in international market, alternate energy sources would be of great value. He said industries need reliable and affordable energy to become productive and competitive whereas they must also find an appropriate balance between growing demand for energy and responsibility to protect the environment. He said Pakistan has large and economically viable resources of wind power, solar, biomass, waste, geothermal and hydel power as well. He said renewable energy is a viable alternate option.

Published in Business Recorder, 25th April, 2018

https://epaper.brecorder.com/2018/04/25/7-page/712548-news.html