Energy Crisis Management: Way forward to Economy Rejuvenation

Abstract

The aim of this case based research study is to investigate the energy crises and the role played by the special economic zones built up by China under the China Pakistan Economic Corridor (CPEC) project to help recover Pakistan from the energy crises. The geostrategic position of Pakistan is playing a key role in world initiatives specifically of China’s, as China is leveraging this to secure its energy supply, strengthening its economy and taking this step to transform itself into world economic power.The renewable energy sources are preferred as one of the clean energy resources but unfortunately Pakistan despite having millions of megawatts of solar energy is not utilizing  clean energy source to add to its energy utilization. The outcome of this ignorance, lack of initiative and energy resources depletion is causing Pakistan to remain in the energy crisis and circular debt. The declining revenue collection for PEPCO is due to increasing electricity bills which certainly add to the circular debt problem. Moreover, the cost of budget of this subsidy does not get fiscal space by government. It is implicated that the government should give full support and concentrate under the umbrella of CPEC projects to replicate the fast establishment of special economic zones to support the economy and development at a fast pace.