Lahore Chamber Of Commerce And Industry Concerned Over Power Outages

Lahore Chamber of Commerce and Industry (LCCI) on Monday expressed concern over repeated power outages and feared that it would hit the industrial production

LAHORE, (UrduPoint / Pakistan Point News - 6th Jul, 2020 ) :Lahore Chamber of Commerce and Industry (LCCI) on Monday expressed concern over repeated power outages and feared that it would hit the industrial production.

LCCI President Irfan Iqbal Sheikh said in a media statement that power outages coupled with weaknesses in transmission and distribution system needed immediate attention of the concerned authorities.

He said that energy was a key to development and uninterrupted and affordable supply of power was essential for accelerated economic growth. He said that energy was also an important economic indicator and its availability/shortage encouraged or discouraged the local and foreign investors.

The LCCI President said that energy shortage/high cost in Pakistan had underlined the need for diversification from conventional and costly power generation methods to low-cost and multi-purpose methods and technologies for energy efficiency.

He said that Pakistan could not afford to continue with costly imported oil as trade deficit had already become a biggest challenge for the economy. He said that promotion of other apposite resources for power generation would reduce the oil import bill and shrink the gap between imports and exports.

LCCI Senior Vice President Ali Hussam Asghar and Vice President Mian Zahid Jawaid Ahmad called for energy efficiency measures saying that it would save huge capital, improve the economy and the environment. They said that government should launch awareness campaign for energy conservation and should also promote modern technologies in this regard. They said that energy-intensive industries must adopt energy efficiency measures that would give huge financial benefits.