Energy optimization in the wake of China Pakistan Economic Corridor (CPEC)

Abstract

The energy crisis has become a significant bottleneck in the country’s economic progress. But to end this age old problem, we have to capitalize on the chance, China Pakistan Economic Corridor (CPEC) investment provides, to its full potential. This study aims to help Pakistani government in selecting the best set of CPEC energy priority projects to be completed in the first wave of development. The second part of the research guides the small/medium scale industry and business owners to select the best available alternative for tackling the energy shortfall while CPEC projects are in the process of materialization. Forecasting electricity shortfall decrease and its impact on various economic/industrial sectors (like services, industrial, textile and agriculture) is also performed to gauge the effect of CPEC on the economy using linear regression. For decision analysis, the MCDM techniques employed are (AHP) along with (TOPSIS). This research generated a new list of recommended CPEC energy priority projects which are more evenly distributed across the country, catering more, to interest of the country as a whole. We also concluded solar panels to be the best alternative for small scale businesses, as short term solution while CPEC projects are under construction.

Keywords:

• Energy
• CPEC
• priority projects
• MCDA
• Short-term solution
• TOPSIS
• AHP
• Pugh method