LAHORE: Lahore Chamber of Commerce & Industry (LCCI) here Tuesday urged the government to utilize all available resources to overcome electricity shortage as deepening energy crisis was hitting growth of manufacturing sector hard.
The LCCI Vice President Syed Mahmood Ghaznavi said that dependence on conventional resources for energy generation was one of the biggest reasons of energy crisis, while the country had the potential to generate more than 100,000 MW electricity through wind and solar means but unmentionable amount of electricity was being generated through these resources.
Ghaznavi said that government should expedite work on energy generation projects to overcome its shortage that was not only hampering industrial production but also a serious threat to economic growth. Sufficient availability of energy, he added, was must to achieve the required GDP growth rate and other economic targets set for ongoing financial year.
He said, early completion of hydropower projects would ensure cheap and sufficient electricity as well as diminish water shortage that was also a biggest challenge for agro-based economy. He said that power cuts were impeding export-oriented industrial production and if situation persisted, the dream of enhancing the exports would not come true.
Ghaznavi said, the consumers of efficient distribution companies with lowest line losses and the highest recovery ratio should be given some incentive/relief.
He said, the industry needed continuous supply of electricity to keep the units operational and complete export orders well within the given timeframe but only because of the shortage of electricity the exports were not up to the mark.