An Overview on Switching to Renewable Energy Resources in Pakistan for Sustainable Future: Its Challenges and Policy Recommendations

Pakistan's heavy reliance on energy imports has a dominant negative effect on its economic growth. This has resulted in increase in import bills. In this paper, a review has been made of the negative impacts of petroleum imports on Pakistan's economy and the environment. The potential of renewable energy sources (RES) has been exploited to mitigate these effects. The paper further explores the potential of RES such as wind, solar, and hydroelectric power to mitigate these effects and promote sustainable economic growth. The case study of Costa Rica, which has successfully transitioned to renewable energy, has also been discussed. The review finds that the high cost of petroleum imports leads to a trade deficit, inflation, budget deficit, and environmental degradation which can be managed by integration of renewable energy resources into the system hence reducing Pakistan's dependency on imported fuels.