Crisis’ has been coined by a Greek word which means ‘decisive moment’. Crisis is declared when something has gone to a level where an action must be taken to avoid complete disaster or breakdown. Energy production of any country is the measure of its economy. No country can achieve high economic growth without producing sufficient energy. Production of energy reflects industrial output, agricultural output, transportation, etc. When energy supply of an industry is restricted, its output decreases and cost of production increases due to which many industries shut down leaving labour unemployed.
ENERGY CRISES IN PAKISTAN
The upsurge of inflation is due to energy shortage in Pakistan. Number of people living below poverty line is increasing due to unemployment and inflation, both of which are by-products of energy crisis. As the high production cost decreases rate of output, the exports of Pakistan are continuously declining. Our trade deficit is increasing which eventually will result in unstable economy.
Increase in the prices, and availability of oil and natural gas directly affects transport. Expensive commercial transport further increases cost of a product which decreases ‘purchasing capacity’ of people, which means depreciation of national currency. Severe load shedding, increasing trade deficit, high inflation, unemployment, depreciation of rupee, etc are reducing the living standards of people in Pakistan. Pakistan is presently facing a serious energy crisis. Despite strong economic growth during the past decade and consequent rising demand for energy, no worthwhile steps have been taken to install new capacity for generation of the required energy sources. Now, the demand exceeds supply.
GAS SHORTAGE HITS PAKISTAN
The persistent gas crises has shaken the very roots of the industry, particularly in Punjab, with export and economic growth targets its jeopardy, which if remain unmet will bring more unemployment and poverty. The.