ISLAMABAD   -  A gap of over 25 percent has been revealed in the generation and consumption of the electricity in the country as against the total generation of 92,091GWh only 68,559GWh was consumed during the first nine months of the ongoing fiscal year 2023-24.

Pakistan Economic Survey 2023-24 released here Tuesday revealed that the consumption of petroleum products and electricity has declined by 7.52pc and 1pc respectively during July- March period of FY2023-24 mainly due to hike in cost.

The survey revealed that against the consumption of 68,559 GWh, during the July to March period of the current fiscal, the electricity generation was 92,091 GWh. A huge gap of over 25 percent between the electricity generation and consumption of the country was revealed, however, the survey was clueless regarding the missed 29,532 GWh generated electricity.

According to the survey, the total natural gas consumption in the country was about 3,207 million Cubic Feet per day (MMCFD), including 695 MMCFD volume of RLNG from July-March (FY2024).

The maximum gas consumption is from the power sector, domestic, and fertilizers, with 894 MMCFD, 864 MMCFD, and 764 MMCFD, respectively. During the same period, two gas utility companies (SNGPL & SSGCL) have laid 156km gas transmission network, 3,614km mains, and 76km service lines and connected 56 villages/towns to the gas network. Moreover, 11,554 additional gas connections, including 9,871 domestic, 1,621 commercials, and 62 industrial, were provided across country.

As of the end of March 2024, the country’s total installed electricity capacity stands at 42,131 MW. The percentage shares of hydel, nuclear, renewable, and thermal are 25.4 percent, 8.4 percent, 6.8 percent, and 59.4 percent, respectively, the survey revealed. Out of total electricity generation of 92,091GWh, the share of hydel, nuclear, and renewable stands at 54.1 percent, which can be taken as a good sign for the economy as the sources of electricity generation shift from thermal to cleaner sources, it maintained.

During FY2024 (July-March), total electricity consumption was reported at 68,559 GWh. The household sector is the largest consumer of electricity, consuming 33,737 GWh (49.2 percent), followed by the industrial sector with 18,022 GWh (26.3 percent). Moreover, agriculture and commercial sectors consume 6,905 GWh (10.1 percent) and 5,365 GWh (7.8 percent), respectively, whereas the electricity consumption in other sectors (streetlights, general services, and other government) is 4,530 GWh (6.6 percent). Imports of petroleum products and crude oil during July-March FY2024 are around 11.0 million tonnes, valued at around $8.4 billion. The major imported products are motor spirit (MS), high-speed diesel (HSD), and crude oil, with import quantities of 3,528.1 thousand tonnes, 1,233.5 thousand tonnes, and 6,169.3 thousand tonnes, respectively. During the period under review, the import value of petroleum products declined by 16.7 percent compared to the same period last fiscal year. Furthermore, due to the government’s efforts, the country’s reliance on FO for power generation declined, leading to zero imports for furnace oil, which was $307.7 million in FY2023. A decline in demand for oil to 12.3 million tonnes was observed during July-March FY 2024, from 13.3 million tonnes during the same period last year.

The declining trend may be attributed to a decrease in demand for HSD, MS, and furnace oil (FO), which comprises more than 95 percent of the total demand. The main reason for the decline is reduction in the demand of power, government, industrial, and transport consumption, which has declined by 64%,14%,8% and 4% respectively.

The consumption of the domestic and agriculture sectors has increased by 38.80% and 37.31 % respectively during the period. According to the survey, the transport and power sectors are major petroleum consumers, covering 77.3 percent and 10.7 percent of total demand, respectively. During the current fiscal year, the demand for motor spirit (MS) and high-speed diesel (HSD) has decreased mainly due to the high prices of these products; thus, the total consumption for petroleum products reduced by 7.23 percent during July-March FY2024, compared to the same period of the last fiscal year. During July- March, the power sector’s coal consumption remained at about 68.9 percent (11,906.7 thousand tonnes), whereas, in the brick kilns sector, it stands at 14.9 percent (2,572.3 thousand tonnes). On the other hand, the cement and other industries sector consumes 16.2 percent (2,800.0 thousand tonnes). Similarly, the survey said that during July-February FY 2024, the total supply of LPG stood at 935,574m tonnes. Currently, 11 LPG producers and 313 LPG marketing companies operate in the country with over 6,000 authorized distributors.