Federal Minister Emphasizes Affordable Energy Supply for Economic Development

In a candid address, Federal Minister for Petroleum, Dr. Mossadegh Malik, underscored the critical importance of ensuring affordable electricity, gas, and petrol supply to drive economic development in Pakistan. Speaking on the Jirga program of Geonews, Dr. Malik highlighted the detrimental impact of mounting revolving debts in the energy sector on the country’s economy.

Dr. Malik emphasized that to foster economic growth, it is imperative to provide essential utilities such as electricity, gas, and petrol at affordable rates. He lamented the adverse effects of high energy costs on both consumers and the economy, stressing the need to align energy prices with the purchasing power of the populace. Addressing energy wastage, Dr. Malik underscored the importance of efficient energy utilization to meet the needs of the people effectively.

Highlighting the regional disparities in energy consumption and payment, Dr. Malik expressed concerns over unpaid bills from certain regions, which ultimately burden the rest of the country. He recalled the dark days of frequent load shedding in 2013, which stymied Pakistan’s economic progress, emphasizing the need for uninterrupted energy supply to fuel development.

Dr. Malik acknowledged the environmental challenges posed by energy production and stressed the importance of adopting measures to mitigate environmental impacts. He lauded Pakistan’s strides in efficient power generation, boasting some of the most advanced power plants globally.

Turning his attention to energy access, Dr. Malik noted significant strides in electrification, with 99% of the population having access to electricity, albeit only 27% having gas connections. He called for greater attention to be paid to the needs of all segments of society, urging policymakers to address the challenges faced by marginalized communities.

Dr. Malik underscored the need for unity and collaboration among provinces and the federation to address the country’s energy challenges effectively. He called for a collective approach, where the interests of the nation supersede individual agendas, emphasizing the importance of cohesive governance to drive progress and development.

In terms of energy exploration and production, Dr. Malik highlighted ongoing efforts to discover new petroleum and gas reserves, particularly in Balochistan and Khyber Pakhtunkhwa. He stressed the need for strategic partnerships with countries like Saudi Arabia to enhance refining capabilities and ensure a steady supply of affordable energy resources.

Dr. Mossadegh Malik reiterated the critical role of affordable energy supply in driving economic growth and prosperity. He emphasized the need for coordinated efforts, both domestically and internationally, to address energy challenges and unlock Pakistan’s full economic potential. By prioritizing affordability, efficiency, and sustainability in energy policies, Pakistan can chart a path towards a brighter and more prosperous future for all its citizens.