Energy security is generally referred to the uninterrupted supply of energy at affordable prices. In fact, it means much more than that. Other than affordability which is central to the concept of energy security, it also refers to diversification of energy, since dependence on one energy source can lead to increased vulnerability. Energy security also refers to energy’s relationship with environment and climate, especially from the perspective of policy making. No energy policy can ignore the consequences of energy provision and usage for the climate change. In a nutshell, energy security is a wide-ranging concept and any discussion on energy security must deal with all these facets together. Energy security, with all its important constituent parts, is also an essential ingredient for economic growth and its sustainability. In today’s world when the issue of climate change cannot be divorced from economic growth, energy security and economic sustainability become even more important.
Pakistan is going through a prolonged spell of acute energy shortage. It has cost the country dearly in terms of output loss, compromised the economy’s ability to compete internationally and it has also become a cause of social unrest. This situation has put Pakistan’s long-term economic growth prospects and economic sustainability on the line. There are a myriad problems plaguing Pakistan’s energy sector and each one, in one way or the other, is connected with the other. Unless concrete steps are taken immediately to redress the situation, it is bound to get worse as it has been for nearly a decade now. However, to deal with the state of affairs on sound footings, policy making must be based on serious research and debate.
Against this backdrop, the theme of the Pakistan Society of Development Economists’ (PSDE) 29th Annual General Meeting and Conference – “Energy Security and Economic Sustainability: The Way Forward” – is chosen to bridge this gap. It is hoped that research presented and debate generated at the Conference would guide the policymakers to devise a comprehensive strategy.
The sub-themes for the 29th PSDE AGM & Conference are:
1. Energy Pricing
2. Governance Issues in Energy Sector
3. Energy Security and Environment
4. Energy and Household Economic Vulnerability