good interview24 Oct 2020 16:56
one of the answers to a question:
How important is it for the economy in the context of the socio-economic impact?
The coal reserves are located in the Thar desert in Pakistan. The place is one of the most underdeveloped regions in Pakistan on multiple counts. In many villages in Oracle s mining area, children don’t go to school. Malnutrition levels are high, and health facilities are distant. One of the direct impacts of developing Block 6 will be on the socio-economic uplift of surrounding areas.
Moreover, from a national strategic perspective, Oracle Power is the custodian of its future energy and food security. Pakistan’s natural gas reserves are depleting and are expected to become 50 percent of their current output in 5 years. The country’s mainstay is agriculture, which is dependent on urea. Since 70 percent of urea is gas as feedstock, it is now imperative that Pakistan converts coal to gas for urea, amongst other uses. Countries like India have launched a programme to inject 3 trillion USD in coal to gas through 40 new coal mines. This strategy is adopted by many countries that see the importance of the development of coal as an asset. Further, Pakistan cannot afford to import oil for power and reduce the burden on forex reserves. Indigenous fuel must be developed on a large scale.
Our project is pivotal to the national development strategy of import substitution, aimed at sustainable growth in a country of 220 million people.