The energy shortage in the country is costing our economy dearly. The crisis in affordable gas and power, combined with the current political instability, is taking a toll on our manufacturing sector and holding back our economic growth.
At present there is a demand for gas of about 3,000 million cubic feet per day, while only 2,300 million are being produced. The government must immediately the address the problem of the gas crisis as it is one of our most affordable energy sources.
The dismal facts show the damage to our economy: The manufacturing sector has seen a reduction as a percentage of the total GDP in the last fiscal year. Textile, leather, jute and pharmaceuticals have all seen a drop in machinery imports. Smaller and medium-sized businesses end up suffering the most as they cannot afford to switch to energy alternatives, such as diesel.
Many industrial units have simply halted due to the lack of affordable energy, and growth has slowed down for others. Currently, our output is nowhere near our potential.
Output across all industries has seen a sharp decline. Everything from glass to industrial chemicals to electronic goods has shown a slowdown in growth. Small-scale industries such as footwear and leather products have experienced negative growth.
This is an outrage and it simply cannot go on. The government must stop its petty political fights and focus on providing clean, sustainable and affordable energy issue. If it fails to do so, we may be headed towards economic disaster.