Report by Engineering Post
Energy is inarguably one of the most important inputs for economic growth that can sustain industrial and commercial activities. The energy sector has progressed since 2013 in terms of power generation and reducing power outages. The initiation of China-Pakistan Economic Corridor (CPEC) power projects has addressed historical gaps in electricity production and improved the reliability of the supply chain. However, the reliance on imported and costly fossil fuels for electricity generation underscores the dire need for a shit in the fuel mix as early as possible.
Pakistan is taking steps towards meeting its energy demand and reducing greenhouse gas emissions. The federal government, according to the available information, is actively pursuing large-scale renewable energy investments to achieve its clean energy goals. Pakistan has set a target to reduce its 50 percent greenhouse gas emissions by 2030, and clean energy expansion will hopefully play a crucial role in achieving this objective. The federal government has also developed a wind power energy corridor along the southern coastal regions of Sindh and Balochistan provinces. Solar power entered Pakistan’s energy mix in 2013 after the government had introduced a set of support policies to foster renewable energy development in the country.
Nuclear power plants (NPPs) are a reliable source of electricity. They can run for up to 18 months without refueling and store enough fuel for another 18 months on-site. Quite obviously, this makes them immune to short-term changes in the fuel prices or availability and allows them to achieve high capacity factors. The nuclear fleet, comprising six NPPs with a total installed capacity of 3545 MW, contributed about 18.2 percent of the total electricity generation in the nation, during July-March FY2024.
In Pakistan, the transport sector is the major consumer of petroleum products, covering as much as 70 percent of the total demand. However, during the last financial year, the demand for Motor Spirit (MS) and High Speed Diesel (HSD) had decreased mainly due to the high prices of these, thus ,the total consumption for petroleum products was reduced by 7.2 percent during July-March FY2024 compared to the same period of the previous fiscal year.
