STAFF REPORT IBD: Pakistan is faced with crippling energy crisis, which has resulted in slashing gross domestic product (GDP) growth by 2.0 to 3.0 per cent.

This was stated by Attock Gen Limited (AGL) and Attock Refinery Limited Chief Executive Officer Adil Khattak during the first Coal Fuelled Power Generation Conference 2012. The conference was organised by AGL last week.

Transformation of the energy mix for power generation from hydel rich to thermal over the last three decades and decreasing indigenous natural gas availability has resulted in an overwhelming dependence on expensive imported furnace oil, he said. The demand and supply gap which is currently exceeding 6,000 megawatts (MW) is likely to double in near future.

Khattak said that Pakistan is gifted with unlimited human and natural resources, but we failed to capitalise on these resources. Coal is fuelling more than 50 percent of power generation in the neighbouring countries China and India and 40 percent worldwide but less than 1.0 percent in Pakistan.

He insisted that spite of being blessed with huge resources of more than 175 billion tonnes in Thar only, we are not utilising our resources.

The aim of this conference was to develop understanding of investors needs by all levels of decision makers and to provide meaningful networking opportunities with leading industry leaders and policy makers.

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