Coal should be exploited to change destiny of Pakistan:Mian Zahid Hussain

Lahore: Thar coal is the best and most economical long-term resolution of the energy crisis which is critical for energy security and national development, said President Pakistan Businessmen and Intellectuals Forum and former Minister Sindh, Mian Zahid Hussain on Thursday.

Kalabagh dam has become controversial therefore extra attention be paid to exploit the treasure buried in Thar, he further added.

He said that Chinese investment in Thar coal and Indian interest to import coal are heartening developments which will bailout our economy reeling under severe energy crisis which will also cut oil import bill, earn forex reserves and provide millions of jobs.

So far Thar coal has not helped a lot to alleviate sufferings of people and economy despite the fact that country cannot afford to delay exploitation of one of the world’s largest lignite deposits estimated at 185 billion tonnes and spread over more than 9,000 km.

Mian Zahid Hussain said that coal reserves matching oil reserves of Saudi Arabia and Qatar can ensure energy security for centuries and earn sufficient money to upgrade transmission and distribution network reducing Rs 380 billion losses and theft to cut per unit cost by Rs 3.

Presently, he said, around 30 percent of energy is being imported disturbing budget while power requirement will swell to 45 thousand MW in a decade which calls for urgent steps.

Introduction of LNG has resulted in closure of over 550 coal fired power plants in US but Germany, China and India are still generating 80 percent, 73 percent and 63 percent of electricity on coal while we are satisfied to generate 20 MW from coal.

Government should revisit issues like facilities, infrastructure, incentives, coordination, tariff and pricing to get maximum benefit of reserves, he demanded.

In this regard, the present Govt. under the able leadership of Prime Minister, Mian Nawaz Sharif is working day and night and have made the economy much stronger and will further boost up things.

Meanwhile,President Pakistan Businessmen and Intellectuals Forum Mian Zahid Hussain on Friday demanded a comprehensive policy to contain distortions in the wheat market putting growers and consumers on the disadvantage.

He said that wheat is staple for the majority of population while tens of millions of farmers depend on wheat crop therefore this sector should not be governed by ad-hoc basis.

Talking to a delegation of flour millers, he said that government get loan from banks to buy wheat from planters and after fulfilling local requirement of 20 million tonnes it give subsidy of 5 to 9 thousand per tonne for export as local prices are 30 to 40 percent costlier than the international market.

The ritual of buying costly crop and selling it on lower rates is being observed since long wasting billion of rupees collected from the taxpayers, he said.

Mian Zahid Hussain said that presently the price of local wheat is Rs 300 more than what we can get from the international market which is a burden on masses.

He said that a former government hiked wheat support price to unprecedented levels to please voters which boosted the price of rural lands and unleashed an unmanageable wave of inflation across the country.

On the other hand, incumbent government imposed 25 per cent import duty on import of wheat and wheat products to safeguard farmers but the duty must be increased, he demanded.

The veteran business leader said that wheat production can be pushed up from current 25 million tonne to 40 million tonne without increasing area under cultivation if latest techniques are applied.

In the next fifteen year the population explosion would be out of proportion while agricultural production would have been compromised by 10 percent due to climate change for which policymakers should do something.

He asked the flour millers of focus on value addition to earn precious foreign exchange for the country.