ISLAMABAD – The Islamabad Chamber of Commerce and Industry has lauded theinauguration of Mohmand Dam by the Prime Minister Imran Khan that wouldhave the capacity to store 1.2 million acre feet of water and termed it avery positive development for the economy as would reportedly generate800MW cheap electricity and help in reducing water shortage issue of thecountry.
Ahmed Hassan Moughal, President ICCI said that Pakistan was endowed withconsiderable water resources to generate cheap electricity, but this hugepotential remained untapped as no major dams were constructed in thecountry after 1960s.
He said a study of WAPDA had highlighted that there was 60,000 MW ofhydropower potential in Pakistan, out of which only around 7,000 MW wasdeveloped so far.
ICCI President said that due to rising population, Pakistan was poised tobecome a water stressed country and urged that the construction of moredams was the need of the hour to avoid energy and water crisis in future.
He said that energy shortage and loadshedding had a serious impact on theeconomy which necessitated that the country should focus on building moresmall and large dams to save its economy from further troubles.
He said that China was the largest producer of hydropower and Pakistanshould take benefit of China’s experience to produce hydropower.
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He hoped that completion of Mohmand Dam would bring multiple benefits tothe economy including generation of environment friendly and cheapelectricity for business and industry and storing sufficient water foragriculture sector and the people.
Rafat Farid Senior Vice President and Iftikhar Anwar Sethi Vice PresidentICCI said that Pakistan was heavily relying on imported fuels for thermalpower that was very costly. They said that high energy cost has makePakistan uncompetitive in the international export market.
They said that hydropower was once a major source of electricity in thecountry accounting for 45 per cent of power generation in 1991, but due tolack of focus from policymakers, its share has dropped to around 28 percent.
They urged the government for focusing on cheap energy sources includinghydro, solar and renewable sources in order to bring down cost of doingbusiness that would give boost to business activities, attract moreinvestment, facilitate the growth of industrial sector, promote exports,create more jobs and enhance tax revenue of the country.
