Pakistan, Nov. 9 -- The Federation of Pakistan Chambers of Commerce and Industry's Businessmen Panel (BMP) has warned that Pakistan's mounting dependence on imported energy and equipment is causing massive economic losses, draining foreign exchange reserves and making electricity increasingly unaffordable for businesses and consumers.

BMP Chairman and former FPCCI president Mian Anjum Nisar said the country could no longer afford to waste billions of rupees annually on unnecessary energy imports when substantial opportunities existed to conserve energy, utilise available power generation capacity and manufacture essential equipment locally.

He said Pakistan's energy crisis was not merely a result of resource shortages but also reflected...