Joint Ventures with Indonesia in terms of importing Eco-Friendly coal could prove to be prolific in overcoming voracious energy crises in Pakistan: Shah Faisal Afridi
Lahore, April 20, 2016 (PPI-OT): Joint Ventures with Indonesia in terms of importing Eco-Friendly coal could prove to be prolific in overcoming the voracious energy crises in Pakistan. It was stated by Shah Faisal Afridi, President Pak-China Joint Chamber of Commerce and Industry while addressing an Indonesian delegation from prosperity Indonesia Holdings Company. The prominent members of the delegation were Mr.Wu Xin Qiang, general manager prosperity Indonesia, Mr. Ching Wenchang, Director Pakistan office and Mr. Tian li, Quality manager, Prosperity Company.
Mr. Shah Faisal Afridi, in his address welcome, highlighted the need for Pakistan to redefine the energy mix on the pattern of developed countries that are utilizing coal as major source of power generation and for this he regarded Indonesian collaboration a positive development. He uttered that Coal should be given the highest national priority to meet our energy needs. He informed that Coal, is cheap and plentiful. He said that it will cost less than 1.5 rupees per unit (1 US cent) while the power generated by burning furnace oil costs around 13 rupees per unit and power from burning gas costs 5.5 rupees per unit.
Afridi said that conversion of Power generation towards coal will halve the cost of electricity production and will boost industrial development, he said. He observed that importing coal from Indonesia can be immensely beneficial for Pakistan and Conversion of power plants to coal seems the only viable solution. He said that power projects can initially be set up on imported coal as a medium-term solution, meanwhile the country explores its own coal resources in the longer run. He proposed to seek assistance from Chinese mining experts in this regard that would not only be cost effective but also easy to be installed. He mentioned that China is still producing more than 75% electricity from coal and we can learn a lot from them.
Faisal Afridi explicated, “Time has proved that the policy of running power plants on natural gas was the worst decision that has not helped in keeping electricity tariff low but depleted gas reserves at much faster pace”. “This all has resulted in costlier electricity which has wiped out our competitive edge in the international market,” he added.
He articulated that we have relied too much on gas, oil and other sources to generate electricity whereas in all over the world 40% electricity is generated through coal but in case of Pakistan, less than 1% electricity is being generated from coal, said Afridi. “Sitting on one of the biggest source of energy and facing chronic power deficits and abnormally high cost of energy is simply incomprehensible,” He remarked.
The prime objective of the delegation was to discuss the possibilities of exporting high quality Eco-friendly harnessed coal to Pakistan from Indonesia. In this regard General Manager of company Mr.Wu Xin Qiang told that coal from Indonesia is preferred all over the world due to the utilization of clean coal technologies employed in mining, these clean coal technologies are focused on the reduction of emissions produced by coal-fired power generation, he added.
While introducing his company Mr. Wu informed that prosperity Indonesia founded in 1980 is a leading company having huge investments in Coal mining, Cement manufacturing, real estate development and Hydro Electrical Power Plants all around the country, he said that total investment realized only in Indonesia is approximately USD 1.2 billion.
Mr. Wu Xin Qiang further told that Coal is the upcoming dominating force in power generation. He said that about 27 percent of the world’s total energy output and more than 39 percent of all electricity is produced by coal-fired power plants due to coal’s abundance and it’s relatively easy and low-cost extraction and less expensive infrastructure requirements has made it a preferred choice for power generation.
For more information, contact:
Wardah Ali Gohar
Pakistan China Joint Chamber of Commerce and Industry (PCJCCI)
Mega Tower, 309 – 6th Floor,
Main Boulevard, Gulberg II,
Lahore, Punjab – Pakistan
Tel: +92-42-35777460-02, +92-42-37032203, +92-42-35874353