Thar treasures should be properly utilised: Khurram Sayeed

Karachi, August 06, 2015 (PPI-OT): Central leader of the Businessman Panel and former vice president FPCCI Khurram Sayeed demanded proper attention to exploit treasure buried in Thar to contain energy crisis, cut oil import bill, provide jobs and boost economy. This project is a must for revenue generation, future progress and national security of the country; it is the only option for our survival, he said.

Speaking to the business community, he said that improper coordination between stakeholders has been keeping Thar Coal from alleviate sufferings of people and economy. Khurram Sayeed said that Pakistan cannot afford to delay exploitation of one of the world’s largest lignite deposits spread over more than 9,000 km. 175 billion tonnes of coal matching oil reserves of Saudi Arabia and Qatar can ensure energy security for centuries by providing around 100000 MW of electricity.

Pakistan can provide affordable, reliable and sustainable electricity to consumers and earn huge foreign exchange by exporting power, he added. Presently, around 30 per cent of energy is being imported disturbing budget; the oil import bill will swell to 100 billion dollars in eight years when we will require 26000 MW to keep the economy moving, he said, adding that the situation calls for urgent and decisive action.

Despite plans to reduce dependence on coal, Germany, China and India are generating 80 per cent, 73 per cent and 63 per cent of electricity on coal while we have only one small 20MV unit working in the country which will be shut soon. Dearth of infrastructure, want of incentives, low coordination, failure to resolve tariff and coal pricing issues are some problems that need to be addressed, he demanded.

For more information, contact:
Khurram Sayeed
Central Leader Businessman Panel of FPCCI
Former Vice President FPCCI
Cell: +92-314-6888888