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MPCL holds forum on sustainable energy, future privatization


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Mari Petroleum Company Ltd. funded the Youth Speak Forum at National University of Sciences and Technology (NUST). The goal of the forum was to promote awareness among the youth about the United Nation’s Sustainable Development Goals (SDGs). The occasion was hosted by the NUST Placement Office in partnership with the Islamabad branch of the International Association of Students in Economic and Commercial Science.

The German Ambassador to Pakistan; Mr. Martin Kobler, was the keynote speaker at the forum, who delivered to his audience a speech on the fatal effects of climate change and the need to move away from sources of conventional energy production to more renewable ‘greener’ ones.

Future availability and utilization of indigenous as well as imported gas and changes needed to attain renewable sources of energy came under the various issues related to Pakistan’s energy sector.

He also moved on to focus on the greater need for investment in education, research and development of human capital for future progress in the country. Dr. Nassar Ikram, NUST’s Pro-Rector for Research, Innovation, and Commercialization emphasized the significance and commitment of NUST towards SDGs.

Similarly, Mr. Affan Javed, from British Council also added to the keynote his take on how innovation compliments SDGs. The former cricketer, Mr. Saeed Ajmal, was also among the speaker and ended up having an interactive session with the students. Vlogger; Mrs. Eva Zu Beck from Poland was also present there to share her experiences about traveling across Northern Pakistan and emphasized the imminent need for campaigns against littering in order to fully enjoy what mother nature has to offer.

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Other speakers, included Mr. Haroon Yasin, Founder of Orenda and social icon as well as Digital Consultant and Analyst, Syed Muzamil Hasan Zaidi who imparted their sections on the significance of quality education and digital hygiene.

Last Wednesday, the Cabinet Committee on Privatization (CCCOP) convened at the Prime Minister house upon the longstanding issue of privatizing some companies already existing on the list. By the end of the meeting, the government had approved the privatization of National Power Parks Management Company (NPPMCL) which runs Pakistan’s only re-gasified liquefied natural gas (RLNG) power plants chiefly; Balloki (1,233  MW) and Haveli Bahadurshah (1,230MW).

A shortage of gas in the winter months leads to the burning of wood and fossil fuels extensively across rural areas in Pakistan, contributing further to air pollution and carbon emissions resulting in smog and health issues.

Approval was also given for divestment of the government’s residual shares in Mari Petroleum Company which would ultimately result in the privatization of the company. The committee approved the divestment of the government’s 18.39 % of shares in MPCL. The shares will be offloaded onto the capital market shortly.

The prime minister was also briefed on the demand and supply situation in the energy sector and given predictions on the petroleum and power division for the first half of 2019. Pakistan’s heavy dependence on coal (67%) and petroleum (25%) -fired plants make for a costly and unsustainable energy mix. Future availability and utilization of indigenous as well as imported gas and changes needed to attain renewable sources of energy came under the various issues related to Pakistan’s energy sector.

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A shortage of gas in the winter months leads to the burning of wood and fossil fuels extensively across rural areas in Pakistan, contributing further to air pollution and carbon emissions resulting in smog and health issues. Currently Pakistan’s combined share of ‘green’ energy – hydroelectric, solar and wind – in the energy mix amounts to less than the global threshold of 5%. The PM issued directions for the policy on renewable energy to be finalized by the end of January 2019.

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