Financial Updates

The blog "FINANCIAL UPDATES" consists on exclusive economic and commerce news about across the world particularly Pakistan economy

Tuesday, July 5, 2011

Thar Coal reserves help to curtail energy crisis

A renowned Scientist and Member Science and Technology, Planning Commission of Pakistan Dr. Samar Mubarak said on Tuesday that the Thar Coal reserves




visitedIslamabad Chamber of Commerce & Industry (ICCI). Addressing to the business community, he said shared the possible solutions to overcome energy crises in thecountry.


Dr. Samar said that Thar Coal reserves could play a pivotal role in meeting energy crises both in long term and short term which would enhanceindustrial competitiveness due to cost effectiveness. He said that the industrial sector could not wait for long and the government should presentquick solution to fill in the gap between demand and supply of energy.


He said that the 41 percent electricity of the world was being produced from the coal, adding that India was producing 64.6 percent electricity from thecoal, whereas Pakistan was only producing 2.27 percent electricity from coal. He said that 95 percent natural wealth was not being utilized, whereasnot a single kg of coal was mined.


He said that the current energy crisis was causing loss of Rs.230 billion and bringing 400,000 people jobless. Current dependable power supply hoversaround 14,000MW in summer though it drops in the winter. On the other hand power demand in 2030 would be more than 100,000MW, he added.


He emphasized that the development of the Thar coal was the only viable long-term solution for meeting energy demands of the country. "Only TharCoal can provide guaranteed long-term energy security to Pakistan", he maintained.


He said indigenous coal can be used, and added that coal gas power plants based on integrated gasification combined cycle (IGCC) plants would generateelectricity at a cost of about Rs.7 per KWH. He further said that coal can also be converted into coal gas above the ground in machines called surfacegasifies," Dr. Samar said, that the efficiency of the conversion of coal gas to electricity is about 40 percent.

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