In a significant stride towards energy self-sufficiency, Pakistan has embarked on a groundbreaking journey to turn its vast coal reserves in Thar into a valuable alternative to imported petrol. The announcement comes from caretaker Sindh Finance, Revenue, Planning, and Development Minister, Yousus Dagha, who revealed this transformative initiative during the ITCN ASIA 2023 event held at Karachi Expo Centre.
Currently, Pakistan incurs an exorbitant annual expenditure of approximately $21.43 billion on fuel imports, a staggering 66% of its total foreign exchange reserves. The reliance on imported fuels has not only put immense pressure on country’s economic stability but has also highlighted the pressing need for harnessing indigenous resources to meet surging energy demands. Hence producing liquefied fuel from Thar coal will greatly help cut our import bill and save foreign exchange. By substituting imported petrol with domestically produced liquefied fuel, Pakistan can free up substantial financial resources for other critical sectors of the economy. The initiation of this project promises to bring multifaceted benefits to economy and energy sector.
Thar coal is not limited to just fuel production. Its utility extends to various other sectors, including gas and fertiliser production. As such, this resource has the potential to become a cornerstone of Pakistan’s energy and industrial landscape. It can catalyse the growth of local industries and create employment opportunities, contributing to broader economic development. The utilisation of Thar coal for fuel production can also have environmental benefits when compared to some traditional forms of energy. Advanced technologies can be employed to mitigate emissions, aligning with global efforts to combat climate change.
Of late a great emphasis is being laid on exploiting the potential of natural resources. Talking to senior anchors the other day, Prime Minister Anwaar ul Haq Kakar put the value of these resources at five to six trillion dollars. If properly harnessed, we can change the whole economic landscape of our motherland and break the begging bowl once and for all.
