Commerce Reporter
LAHORE: The three-day Pakistan Energy Expo was is formally inaugurated by Mian Abuzar Shad, President of the Lahore Chamber of Commerce (LCCI), who cut the ribbon to open the expo.
The exhibition arranged stalls from 52 local and international companies exhibiting a wide ranging energy solutions.
Talking to media, Shad emphasised the rising importance of energy worldwide and discussed Pakistan’s building energy costs, which have led to a suzeable reduction in demand. He said that many people were turning to alternative energy sources such as solar and wind power, which will be continuing grow in the future.
“The government is required to promote alternative energy sources,” Shad said, highlighting that electricity is less costly in countries like Bangladesh and India. He also highlighted that providing power to industries at the rate of nine cents per unit would keep the wheels of industry turning.
He stated that the government has made considerable progress in controlling inflation, stabilizing the dollar, and reducing petroleum prices. However, he pointed out Pakistan’s tax collection methods is required simplification, as all citizen are contributing but the system is complex.
Discussing the capacity payments, Shad revealed Rs2,111 billion is being paid, with an additional Rs1,500 billion being disbursed.
He called for a third-party audit of these payments, adding those who invested $100 have earned up to $600, which he deemed unjust.
The event was also attended by Acting Chinese Consul General in Lahore, Cao, who met with Mian Abuzar Shad and toured the stalls. Cao explained China’s interest in initiating joint ventures with Pakistani companies. Shad also stated that the purpose of the exhibition is to address Pakistan’s energy crisis.
Chief Organiser of the Expo, Atif Zeeshan, emphasised the need to focus on alternative energy sources to overcome the energy crisis in the country.
