Availability of cheap energy played a key role in promoting business and economic activities and the government should focus on enhancing the share of hydropower in the total energy mix that would help reduce manufacturing cost and boost business activities, industrialization & exports. This was said by Muhammad Shakeel Munir, President, Islamabad Chamber of Commerce & Industry while speaking as Guest of Honor after distributing awards amongst the participants of 1st International Conference on Pakistan Hydropower Sector organized by Energy Update in collaboration with Private Power Infrastructure Board (PPIB). Mian Shaukat Masud, former President ICCI and others were present at the occasion.
Shakeel Munir said that Pakistan mostly depended on thermal power generation, which has become very costly due to rising oil prices and was a major cause of high cost of doing business in Pakistan. He said that the share of thermal power was over 59 percent in total energy mix of Pakistan while the share of hydropower was just 29 percent and urged that the government should take strong measures to increase hydropower share up to 50 percent by 2030. He said that Pakistan has tremendous potential to produce plenty of energy through renewable sources including hydro, wind and solar, which are clean and environment friendly. He emphasized that Pakistan should exploit these indigenous energy sources to reduce energy cost & import bill, improve competitiveness of industry and boost exports.
ICCI President said that the government should build more dams in the country on a public-private partnership basis to overcome the issue of water shortage and produce clean & cheap energy. He lauded the initiative of Energy Update for organizing an international conference on hydropower sector and hoped that it would provide a good food for thought to the policymakers for paying more attention towards indigenous cheap energy sources that would lay a strong foundation for the sustainable economic growth of the country. Federal Minister for Energy Hammad Azhar, Chairman NEPRA Tauseef H Farooqi, CEO PPIB Shah Jehan Mirza, Roger Gill President International Hdropwer Association, CEO PEDO Engineer Naeem Khan, Director Energy Office USAID Ms Jenna Diallo addressed the inaugural session of the Conference. Earlier, Managing Editor Monthly Energy Update Naeem Qureshi welcomed the distinguished guests and participants to the conference. Other speakers included Mian Shaukat Masud former President ICCI, DG Hydro PPIB Munawar Iqbal, Senior Advisor CTG NA Zuberi, CEO Star Hydro Poweer Mr Haedong Chio, DMD NTDC Muhammad Ayub, Halima Khan GM Corporate Communications and Marketing-Energy Update.