Lahore: The Lahore Chamber of Commerce and Industry (LCCI) President Mian Abuzar Shad called for urgent reforms in Pakistan’s energy sector during the inauguration of the three-day Pakistan Energy Expo. Addressing the ceremony at Lahore Expo Center, Mian Abuzar Shad emphasized the need for reduced energy tariffs to alleviate challenges faced by the business community and highlighted the adverse effects of rising energy costs on industries and the national economy.

According to Lahore Chamber of Commerce and Industry, Mian Abuzar Shad expressed concerns over high capacity charges paid to Independent Power Producers (IPPs), which he described as a burden on the national treasury and a major contributor to escalating electricity costs. He advocated for a more regulated and transparent energy sector, urging the government to enhance accessibility to renewable energy sources such as solar and wind energy to combat the ongoing energy crisis.

The event also featured remarks from the Acting Chinese Consul General Mr. Cao Ke, who emphasized China’s commitment to strengthening economic cooperation with Pakistan through potential joint ventures. Chief Organizer Atif Zeeshan echoed the significance of adopting alternative energy resources, underscoring solar and wind power as key to addressing the country’s energy challenges.

Mian Abuzar Shad also touched upon the economic strides made by the government, including efforts to control inflation and simplify the tax system to bolster the economy and expand the tax base. He compared electricity costs in neighboring countries, suggesting that a competitive rate of 9 cents per unit could revitalize Pakistan’s industrial sector.

The Pakistan Energy Expo aims to gather stakeholders to explore sustainable solutions to the energy crisis, with a focus on alternative energy sources that could reinvigorate the country’s economic and industrial landscapes.