Abstract
Energy being the lifeline for socio economic development has become the leading issue of 21st century. There is global increase in demand of energy and it will continue to increase due to immoderate energy consumption. Today there is global fear of energy crisis as world primary demand of energy is expected to rise about 1.7 percent annually in next twenty years. South Asia is expected to give largest share for increase in global energy demand. Pakistan being a developing state is facing acute energy crisis that has hampered the socio-economic development. The energy crisis of Pakistan and its spillover effects on efficiency of other sectors especially economic sector has created serious issues in Pakistan for the last two decades. The overreliance on imported energy resources to satisfy the demand and less emphasis on the development of domestic energy resources is deteriorating the socio-economic conditions of country. There are two major sources of energy being used in Pakistan, renewable and non-renewable sources. In Pakistan, there has been more focus on non-renewable sources of energy which are largely acquired through imports of oil to satisfy the increasing demand. The state Energy policy has somehow has not able to match with the increasing energy demand and therefore citizens angered by frequent power outages demonstrate to protests and riots. Thus, this article, accentuate on the need of the utilization of the indigenous resources of energy to fulfill the energy need and to eradicate the acute crisis of energy. this research will also assess the issues in Power policy and Power sector institutions of Pakistan.
Highlights
Energy security has become the top priority issue around the globe
The global depletion of conventional energy resources with every tick of clock and increasing energy demand round the clock compelled the world to opt for alternative methods of energy production
The question addressed in this research is Why Pakistan is facing unprecedented energy crisis despite having indigenous potential to fulfill the energy demand? How the policy and sectoral ineptness is responsible for Pakistan’s energy deficiency? The research endeavors to suggest certain policy options for the future energy policy of Pakistan to satisfy the energy demand
Summary
Energy security has become the top priority issue around the globe. The increasing quest and worldwide increasing demand of energy has made energy an important strategic reserve. Pakistan despite having enough resource endowments is facing unprecedented energy crisis that is lingering day by day. This severe energy crisis and its domino effect on economic sector is leading country towards anomalous economic recession. Despite of indigenously available coal and hydro potential country heavily relies on imported oil and gas imports for power generation It shows lack of cohesion among different ministries especially among WAPDA and NCA as well as Ministry of energy. The financial issues and insufficient research capability hinders in bringing alternative sources of energy to satisfy growing demand of energy. The question addressed in this research is Why Pakistan is facing unprecedented energy crisis despite having indigenous potential to fulfill the energy demand? The question addressed in this research is Why Pakistan is facing unprecedented energy crisis despite having indigenous potential to fulfill the energy demand? How the policy and sectoral ineptness is responsible for Pakistan’s energy deficiency? The research endeavors to suggest certain policy options for the future energy policy of Pakistan to satisfy the energy demand
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