Energy shortage is badly affecting business activities due to which many industrial units have closed down their operations, rendering thousands of workers jobless and government should explore renewable energy resources to overcome energy crisis in the country. This was said by Mian Shaukat Masud, President, Islamabad Chamber of Commerce & Industry in a statement.

He said Pakistan is endowed with plenty of renewable energy resources like wind, solar and even tidal, which still remain untapped despite the fact that an Alternate Energy Development Board (AEDB) exists in the country. He said the adoption and deployment of renewable energy resources can play a significant role in contributing towards energy security and energy independence of the country.

Mian Shaukat said wind accounts for approximately 19 percent of electricity production in Denmark, nine percent in Spain and Portugal, and six percent in Germany and the Republic of Ireland while China and India are successfully using wind power for electricity generation. However, he lamented that Pakistan lags behind in this area as contribution of renewable resources in our energy mix is just 0.21%, while Gharo-Keti Bandar wind corridor alone has the potential to generate 50,000 KW of energy.

He said in Pakistan, which is gifted with over 700 kilometers of coastline, tidal power can also prove to be a solution to the perpetual power crisis. Similarly, biofuels, biomass and wave power are some other potential energy sources which need to be explored in order to provide electricity to far-flung and remote areas of the country, as well as to meet the growing demand of electricity for industrialization and agriculture, he added.

He said renewable sources of energy have not only huge power-generation potential; these are also extremely environment-friendly. He said government should announce special incentives for investors to enhance investment in these indigenous energy resources so that Pakistan could become self-sufficient in energy production and trade & industry could flourish for putting economy on the track of progress and prosperity.