Energy crisis and Petroleum prices is pushing Pakistan into quagmire
Energy crisis and Petroleum prices is the one major problem and Pakistan is facing since its inception. The Constant prevalence of crisis has caused our industrial activities at risk.
In industrial cities such as, Karachi, Lahore, Gujranwala and Faisalabad many factories have been unable to get constant supply of energy whereas thousands of them have shut down or are operating barely at minimum level.
Among the industries especially textile sector of the country has been badly affected and is facing severe losses by the widespread energy crisis.
Moreover, lack of persistent supply of energy has not only increased the cost of doing business in the country but has also resulted in huge fly of capital as investments have shifted elsewhere.
The issue of capital flight has further created sight of fear for the local investors who are hesitant to invest their money in the country.
Pakistan’s Current energy crisis have been a red signal for foreign investors. The demand for energy especially electricity is increasing and supply is less. This is an alarming situation for the foreign investors.
These conditions cause thousands of people to lose their jobs and have impacted on labour market and manufacturing organizations
This energy crisis is one of the major reasons for increasing unemployment in Pakistan. Now a days load shedding is between 16 to 18 hours meanwhile many small and medium range industrial units are put to a halt due to energy crisis which also increase unemployment in the country.
Foreign Direct Investment (FDI) and local investment is continuously shrinking on account of constant energy crisis. If this condition existed, then economically Pakistan would suffer a lot. Government needs to think about this one. Because there would be poor growth in the agricultural yield due to intermittent supply of energy.
The increasing trend towards migration and rural urban migration in Pakistan represents an example of energy crisis.
The recent statistics show that 35% of the population is living in urban areas whereas 65% lives in rural areas. People migrate to urban areas for access to better health, sanitation and education.
This rapid and undisciplined growth of urbanization is increasing the requirements of energy needs of urban dwellers, resulting in extra ordinary rise in the number of vehicles and household electrical appliance.
However, deteriorating economy, Low agricultural production, skewed industrial growth and unemployment result in Poverty which makes it difficult for the poor people to fulfill their basic needs making then deprived.
When Masses are deprived of their basic rights and needs they adopt different deviant means to achieve their goals which increase the rate of crime.
Moreover, when individuals put themselves ahead of the institutions, they set bad examples of a crime which becomes norm of the day.
The government needs to think about the energy crisis which may otherwise contribute in the heavy financial loss of the country.