LONDON – The Prime Minister of Pakistan Nawaz Sharif has described its vision to eliminate energy crisis by developing a competitive energy market to attract foreign investors.
Nawaz Sharif was addressing the Pakistan-Britain Energy Dialogue and Investment Conference in London on Thursday when he shared his idea about how to lessen energy crisis.
“My vision is to develop a competitive energy market in Pakistan, that on one hand provides a fair return on investment and through a robust regime adequately protects the rights of consumers on the other,” Nawaz Sharif proudly tell his audience at the conference.
The sole purpose of this conference was to assist Pakistan in seeking investment in addressing its energy needs through sharing expertise and best practices.
He also said that “The primary objective of today’s discussion is to share ideas and international practices between policy makers and investors for formulating an optimal energy policy for Pakistan with particular focus on net energy sufficiency and developing a competitive energy industry.”
About two-thirds of Pakistan’s energy is generated by oil and gas and there are widespread gas shortages, with cars run by CNG, compressed natural gas, queuing up for hours overnight to fill their tanks. Power shortages have sparked violent protests and crippled key industries, costing hundreds of thousands of jobs in a country already beset by high unemployment. “Load-shedding” means many families cannot pump water, let alone run air-conditioners, with a disastrous knock-on effect on health and domestic life.