SAARC countries urged to take collective ventures in energy sector

MALE, Jan 16: Experts and business leaders of the SAARC countries suggested taking collective ventures for best exploitation of potential energy resources, reports UNB.

In this regard, they mentioned huge gas reserves in Bangladesh, coal and petroleum in India's east and hydro-potentialities of Nepal and Bhutan.

Their opinions came in a technical session on energy in the 4th SAARC Economic Cooperation Conference in this resort city today where suggestion for the much-talked-about regional energy grid also came up.

S M Inam of Pakistan chaired the special session on "Regional Cooperation and Joint Strategies in Energy." Among the discussants were Abdul Awal Mintoo of Bangladesh, Prof MP Lama of Jawharlal Nehru University in New Delhi and Nakchung Tshering of Bhutan.

Terming energy as a prerequisite for national development, FBCCI president Mintoo cited poor consumption rates in the region that include 57 k/h in Bangladesh and 39 each in India and Nepal.

"Geopolitics should be separated from Geo-economics. Politics should not destroy our geographical advantages," he said mentioning the potential of trade in the SAARC region, especially in energy sector.

In this respect, Mintoo mentioned massive hydropower generation in Bhutan 95 per cent of which is exported to India.

"Why investment is taking place in Bhutan that uses only five per cent of its production? It is because they (foreign investors) know there is a huge market in the region."

MP Lama of JN University in New Delhi told the business leaders that only Bangladesh could generate 22,000-megawatt electricity by using its natural gas resources.

"India, Pakistan and Bangladesh can be a big umbrella of electricity by making a regional grid," he said.

"A strong block comprising all the SAARC countries will bring more and more foreign investors, especially in the energy sector," he said mentioning the companies coming to Bangladesh.

Prof Lama, however, emphasised a massive reform in the energy sector as public-sector monopoly across the region is causing a huge system loss, non-realisation of tariffs and dissatisfaction among the consumers.

"In efficient management in public sector in the energy field has created a mismatch. It should be overcome immediately," he told the session.

Lama emphasised a concentrated and comprehensive effort across the region.

The conference had also discussions on SAPTA, competitiveness, Regional Arbitration Council, Telecom and IT, infrastructure and joint marketing of tourism.