Renewable Energy and Oil :The Future Aspects of Pakistan's Economy

PAKISTAN is once again facing another energy crises and it seems that we are in the eye of the storm when things are calm for a while, but massive volatile fluctuations are just around the corner. Recently Pakistan State oil has been allowed to import 25000 metric tons of Petrol and 50,000 tons of Diesels to prevent the predicted shortfall. Most of the oil will be needed for our energy generation purposes and once again a circular debt scenario would start piling up leading to another crunch putting more and more burden on our fragile economy

The International Monetary Fund has also been approved a $7.6 billion to Pakistan of which the first installment of $3.1 Billion Dollars will be presented instantaneously

But   the global financial crunch has also engulfed Pakistan's economy, as it has with several other countries. A worsening security situation, and rising food and oil prices, have all been major contributing factors behind the phenomenon. Gas and oil have 65% to 67% share in conventional electricity generation. Indigenous reserves of oil and gas are limited and the country heavily depends on imported oil. So once again energy requirements of Pakistan are not up to the demand .At the moment only 55% to 56 % of Pakistan's population has access to electricity.

Energy security often hangs in a fragile balance because of oil supply and demand laws and oil volatility. Burning of Fossil fuel also contributes to Air pollution and increase in the Green house effect and robbing us of precious Carbon footprints.

According to the Islamabad own estimates by 2015 power demand in Pakistan will be nearly 22 percent greater than anticipated supply. By 2030, this energy deficit will be 64 percent. Now these are threatning figures and estimations especially when we need a jump start economy as fast as possible. Higher prices, higher unemployment, higher threats and weaknesses, reduced opportunities, decline in quality of life and rise is crime and instability would be more common

            So Now is the time to move into the Green Zone and focus on clean and renewable energy options to meet Pakistan's Energy needs .Pakistan's hydropower potential is still untapped and coal resources under-utilized even today, Pakistan's immense coal capital are the world's sixth largest, and the government intends to boost the share of coal in the overall energy equation from 7% to 18% but that seems less likely

Pakistan's renewable energy potential as great; water, wind, solar, Bio Mass and Fuel (Ethanol) are massive, although presently this potential remains largely untapped. Escalating oil prices in previous years have given Pakistan an additional inducement to invest in renewable energy technologies with very promising Return on Investments

Research by Khanji Harijan1, Muhammad Aslam Uqaili2, and Mujeebuddin Memon1 and Sher Mohammad Nasir Renewable Energy for Managing Energy Crisis in Pakistan in reference to renewable Energy and Wind Potential are very interesting reads.

For wind Potential areas in Karachi, Quetta , Jiwahi , Hyderabad and coastlines around Sindh and Balochistan are the best places for wind Energy and boasts an estimated 2.5 times current electricity generation .and for solar power generation is around 3.5 PWh per year . Now even if the approximations are half correct the immense potential cannot be ignored. Incentives need to be provided to local manufacturing for the

In 2003, the Pakistani government ambitiously declared that by 2015, around 10 % of the energy needs would be from Renewable energy sources and a formal board named as Alternative Energy Development Board but not much has been done by the Board.

Energy matters; It would play a crucial role. If Pakistan is to be successful in its motivated plans for economic progress, quality of living has to be increased, followed by democracy and political stability, and pay attention to its always ignored Environmental Problems Pakistanis must get serious about energy and have a well defined mission and vision

            In the end going green and going for renewable energy options would reduce Pakistan's Energy Environmental and Economic problems and would improve the Socio Economic conditions of Pakistan and would lead to a better Pakistan for all of us.

References:

1.      Alternate Energy Board                                 

2.      Pakistan Council for renewable energy Technologies

3.      Powering up: Pakistan's push for renewable energy

4.      Renewable Energy to Tackle Pakistan's Electricity Crisis

5.      Wikipedia

6.      HEC Digital Librabry

7.      http://www.riazhaq.com/2008/09/tackling-pakistans-electricity-crisis.html

8.      http://www.scidev.net/en/features/powering-up-pakistans-push-for-renewable-energy.html