Efficient use of oil, key to tackle hiking prices - Govt

16 Jan '08

1 min read

In the recent research surveys, it has been revealed that in spite of insufficiency of power, Pakistan continues to loose billions in wasteful energy consumption, which could have been put to better and constructive use.

Experts are of the opinion that the country can save as much as US $3 billion in its annual oil import bill by enforcing an effective energy conservation plan.

While the sky rocketing oil prices touching $100 per barrel has already taken its toll on the country's economy, power shortage is another major crisis engulfing Pakistan into an impassable turmoil.

Its time the Government takes measures to conserve energy by means of inculcating habits for 160 million of its current population.

Estimates show that industrial, agriculture, transportation sectors, and residential areas are together wasting energy worth nearly $2 to $3 billion per annum. On the contrary experts believe that energy on the whole can be conserved by about 15 to 25 percent.

While the chemical industry can save up to Rs16.05 million; leather and textile can hive up Rs0.26 and Rs12.60 million respectively. On an average, Pakistan can secure Rs915 million per annum from energy conservation.

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