Muharram 13, 1428

February 2, 2007

Solar and Wind Energy can resolve the problem of power shortage ----KCCI Chief

The continuous power shortage is creating hurdles in the current pace of economic growth of the country. The growing gap between demand and supply of power and interrupted supply of power to industrial sector is retarding the country exports. While following the traditional power resources one should look at the other alternative energy resources like solar and wind energy to provide power. This was stated by Mr. Majyd Aziz, President Karachi Chamber of Commerce and Industry (KCCI), while inaugurating the first meeting of Engineering and Technology Sub-committee of KCCI.

He further said that this newly formed Sub-committee is being established under the present manifesto of his team to address the problems and issues of this crucial sector especially automotive, defence production, and hi-tech engineering. He added that we are building bridges between foreigners and Pakistani counterparts to collaborate in these sectors with special emphasis on value addition in automotive sector.

While giving a valuable presentation on importance of solar and wind energy, Mr. Azhar Ayub, Erector of Solar and Winter Wind Plants said that solar energy is one of the solutions of power shortage, as sun is abundantly available without any cost, since solar energy systems can also work in overcast situations. The downside of solar energy products is their cost, which is out of reach of most of the population’s purchasing power. To solve this problem, a number of companies have manufactured low cost and affordable solar energy products. He further said that Pakistan lies in the region of trade winds, which give it a competitive edge to utilize this priceless resource to overcome the problem of energy shortage. In this respect Mr. Azhar identified a few areas in Karachi near Hawkes Bay and National Highway for installing both solar and wind energy plants to produce electricity.

Mr. Ovais Siddik Jaangda, Chairman of the Sub-committee said that engineering sector accounts for 63% share in world trade. However, he expressed his grave concern over the multiplicity of problems confronting Engineering and Technology sector in Pakistan.

During the meeting a number of issues and roadblocks were discussed such as adoption of technology in industrial sector to enhance the country exports, and scope and prospects of Public-Private Partnership in defence production. The committee, inter-alia, also discussed the issue of bank requirement of 100% down payment as guarantee, as it is adversely affecting the growth of the sector. The committee showed its concern as to why the banks are not accepting the insurance guarantee as per past practice.

Mr. Junaid Kapadia, the Senior Vice Chairman of the Sub-Committee appreciated the active participation in the matters of the Sub-committee.