CPEC restructuring Pakistan’s economy
One thing that needs to be addressed in Pakistan is power shortage. Pakistan is in energy crisis despite having vast energy resources especially, coal reserves in Thar, Baluchistan, and Punjab. Pakistan facing an approx. average shortage of 4,000 megawatts so far. Exorbitantly high capital costs to existing hydro resources have distorted hydro-thermal ratio in power generation mix and lead to a significant upsurge in cost.
Economic growth and energy consumption are equally responsible for development. Energy usage by consumer with coal, oil, gas, uranium, and other basic resources to generate the electricity. Electricity has become an essential, multi-purpose form of energy. We are not fulfilling our demand due to lack of techniques and maintenance that’s why are facing energy crisis as load-shedding in Pakistan.
Information and Communication Technology (ICT) and connectivity offered by communications services play a serious role in attaining targets. ICTs enable, support operation and maintenance of power grids, integration of renewable energy sources into grids and improve energy efficiency e.g. by providing reduced consumption at consumer end. Economy can reap benefits of ICT only if access to energy is safe. ICT triggered energy consumption may face a challenge to decoupling energy consumption and economic growth. There is a potential of 4000 MW to 6000 MW power generation using Biomass (including bagasse) as a fuel according to a recent study of World Bank. Punjab government also estimates a potential of 1500 MW biomass-based power generation. Potential of 1000 MW power generation from solid waste. Existing estimates positioned at 200 MW to 400 MW of electricity from waste heat recovery.
CPEC is a real game changer for energy sector because prioritization of energy projects as part of the China-Pakistan Economic Corridor (CPEC) investments has enhanced the confidence of investors in Pakistan’s energy sufficiency. CPEC towards harnessing economic turnover in the country and providing sustainable industrialization and export-led growth considered 9th Pakistan energy forum 2016 as energy sufficiency in Pakistan. About $33bn is committed for energy and power projects in Pakistan. CPEC will add more than 17000 MW of energy while other than CPEC will add up to 3633.5 MW of energy. Chinese have invested in power generation from coal along with hydel, wind and solar power. Shanghai Electric, a company of China Power, interested to invest as a major stake in K-Electric, Karachi. Chinese are covering the entire power sector value chain. Textiles, agriculture, and manufacturing increase exports and ultimately lead to sustained economic growth in the long term with improved energy sector.
CPEC would overcome energy crisis by 2018. Therefore, having a sustainable energy overflow in country CPEC energy projects will help to reach global aspects. New projects of around 10,000 MW would be added in next couple of years, together with 1000 MW renewable energy based projects and around 16,000 MW by December 2020, CPEC would also benefit the less privileged areas of Pakistan. CPEC at present 12 early harvest energy generation projects including Sahiwal coal-fired project, Port Qasim power plant, and Karot Hydropower station. These projects will be completed by 2017-18 to meet energy requirements sufficiently. OBOR Summit in China brought further hopes for Pakistan specifically in energy sector with other important infrastructural areas. Pakistan and China sealed an agreement on several energy projects under CPEC.https://www.technologytimes.pk/cpec-restructuring-pakistans-economy/NewsCPEC,economy,Pakistans,restructuringOne thing that needs to be addressed in Pakistan is power shortage. Pakistan is in energy crisis despite having vast energy resources especially, coal reserves in Thar, Baluchistan, and Punjab. Pakistan facing an approx. average shortage of 4,000 megawatts so far. Exorbitantly high capital costs to existing hydro resources...EditorialEditorial firstname.lastname@example.orgEditorTechnology Times