Number of Downlaods: 127
Published Date: Jun 30, 2021
Energy plays a critical role in socio-economic development of a region. According to the United Nations Sustainable Development Goal 7 (SDG 7), affordable, reliable, sustainable and modern energy for all should be ensured by 2030. Achieving this target would require prompt measures for building energy infrastructure, mainly for renewable energy technologies.
Despite being currently able to generate electricity in a surplus that is estimated to increase to 15,000 MW by 2025, around 25 percent (50 million) of population in Pakistan still do not have access to electricity. The power sector is marked with major inefficiencies, losses, and theft in the distribution system. In recent years, Pakistan has observed some of the worst power blackouts due to poor transmission systems, lack of connectivity and poor reliability. Unlike most developed countries, Pakistan has a very limited fiscal space available and the policies are generally driven by economic priorities. The circular debt of Pakistan has now risen above PKR 2.35 trillion and is being contributed by surplus capacity payments. Consequently, between 2007 and 2020, the power crisis has cost Pakistan approximately $82 billion in loss GDP (Gross Domestic Product).