President of Pakistan Businessmen and Intellectuals Forum (PBIF) Mian Zahid Hussain has urged the government to focus on taping renewable sources of energy because the price of solar power has fallen by 50 percent in 16 months while the price of LNG is also going down and it calls for preferring short-term contracts over long-term deals.
"Energy crisis is eating up two percent of the GDP therefore government is in a hurry to bridge the gap but it should not overlook the cost factor," he urged.
He said that the skilled and unskilled labour in China were demanding better wages which compelled many industries to relocate, therefore, Pakistan should try its best to attract them.
"The details of special economic zones are yet to be finalised with China and our policymakers should ensure that it complements local trade and industry rather than putting its survival at stake, he emphasised.
Mian Zahid said that CPEC was the greatest achievement of Prime Minister Nawaz Sharif which would boost GDP by one percent within one year. It would boost exports by 2% to 3% by 2018 despite the incompetence of export managers.
He said that the power projects would add 10400 megawatt of electricity to the national grid within one year and additional power supply would not only boost exports but also help reduce unemployment, push forex reserves and foreign investment and improve revenue.
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