Energy crisis are one of the most significant and crucial factors which are hindering the economic growth of Pakistan. And instead of the improvement the situation is getting worse which is becoming a threat for the economic stability of the state. It is being the common practice to observe 12 hours of load shedding on daily basis for both domestic and commercial areas of Pakistan. In such conditions the country cannot improve their productivity, rather than improving they are unable to retain what they have achieved so far. Low productivity and the shutting down of industries are having an adverse effect on the GDP of the state as it is significantly declining. The government has taken several actions which have done no good for the respective cause. Millions of Dollars are being spent on the import of power generators on rental basis has made conditions worse. Still the short fall is about 7000 megawatt.
Electricity crisis in Pakistan
The electricity produced from the rental plants is more expensive than ever which has made an additional burden on the earning of a normal citizen. Large industries can afford the purchase and usage of the power generators to cope up with the unavailability of the power but for medium size and as well as the small industries it is just impossible for them to adopt this method and so the only way which is left for them is to shut down their industries and businesses. This shutting of the industries is causing huge harm on the country’s economic condition as such shutting down leave thousands of people unemployed and ultimately increases he unemployment ratio if the country. The orders which are being allocated to the industries from the foreign customers and clients are also kept un-fulfilled due to the shortage of the power supply. This makes the clients change their vendors and shifting them from Pakistan to the other countries where such problems does not persist. This is taking the business opportunities out from the country.
Many of the national producers have shifted their production plants in the neighboring countries like in Bangladesh, Iran and China where they are bearing less production cost as compared to the cost they were bearing in Pakistan. This is also breaking the backbone of our economy as we are losing job opportunities as well as source of income for the country. According to the WAPDA (Water and Power Development Association) the production of the electricity is 13000 Megawatt while the consumption is of 20,000 Megawatt, so the deficit of 7000 megawatt is causing the load shedding. The shortage of Oil, Gas and Electricity is causing harm to the national interest and economy of Pakistan and if these problems and challenges are not met on the priority basis; Pakistan’s economy can be in great danger of being destroyed.