Islamabad, April 15, 2024 – Prime Minister Muhammad Shehbaz Sharif has underscored the imperative of harnessing renewable energy sources to mitigate Pakistan’s dependency on oil imports, directing the energy ministry to expedite efforts in this regard.
Chairing a meeting to assess the performance of the power sector, Prime Minister Shehbaz emphasized the urgent need to enhance the country’s power transmission network and maximize the utilization of renewable energy resources. He articulated that transitioning to alternative sources such as solar, wind, and hydel power could substantially reduce Pakistan’s hefty oil import bill, amounting to billions of dollars annually.
“Ultimately, we have to move to renewable energy. The oil import worth billions of dollars can be controlled by using alternative resources like solar, wind, and hydel. Make cold calculations and I believe, you will be the winner in the long term,” remarked Prime Minister Shehbaz during the meeting.
Highlighting the detrimental impact of reliance on crude oil imports, Prime Minister Shehbaz emphasized the necessity of breaking free from the grasp of the crude oil tanker mafia, which he described as parasitic entities draining national finances. Currently, Pakistan imports oil worth $27 billion to satisfy its energy and transportation demands, a figure that Prime Minister Shehbaz believes can be significantly curtailed through a strategic shift towards renewable energy sources.
In addition to addressing the economic imperative, the Prime Minister underscored the environmental benefits of transitioning to renewable energy, emphasizing the importance of sustainable development practices for the nation’s long-term prosperity.
Discussing the ongoing efforts to combat power theft, Prime Minister Shehbaz commended the performance of the Punjab government and urged other provinces to emulate similar measures to tackle this pervasive challenge effectively.
Recognizing the critical importance of a robust power transmission infrastructure, Prime Minister Shehbaz stressed the need for concerted efforts and substantial investments to strengthen the country’s power transmission network. He instructed the energy ministry to engage with world-class consultants to devise comprehensive strategies for enhancing Pakistan’s power transmission capabilities.
Furthermore, Prime Minister Shehbaz expressed condolences for the lives lost due to heavy rains affecting parts of the country and directed the Chairman of the National Disaster Management Authority (NDMA) to coordinate relief efforts with provincial authorities to provide assistance to affected areas.
Prime Minister Shehbaz’s directive underscores the government’s commitment to sustainable energy practices and underscores the imperative of transitioning towards renewable energy sources to reduce Pakistan’s dependence on oil imports. By prioritizing investments in renewable energy infrastructure and strengthening the power transmission network, Pakistan aims to achieve energy security, economic resilience, and environmental sustainability in the years ahead.
