STAFF REPORT KHI: The Planning Commission has estimated that the total investment of about $4 billion per annum are required to meet the countrys energy needs which are projected to grow at a pace of 2.0 GW per year in the next five years.
An updated version of the Pakistan Integrated Energy Model Policy Analysis Report represents a least cost development path for the national energy sector that supports the governments projections for GDP growth.
However, the projections depend on many factors, such as the demand projections, the prices assumed for fuel, the cost and performance of the future technology options, the future characteristics of the existing and committed power plants, and demand sector end use technology choices.
The report observed that the country is at a critical crossroad. In order to attract the investment necessary to foster sustainable economic growth there must be a reliable and affordable supply of energy.
According to experts, if the government plans to achieve the growth ta rget, the energy requirements would become double than present and it would cross the figures 120 MTOE (million tons of oil equivalent) in 2015.
They said that the country, apart from oil, should also develop and use the other resources of energy like atomic energy, search, and use of natural gas, import of natural gas, solar energy, coal and wind energy.