THE PAKISTAN DEVELOPMENT REVIEW
Demand-side Energy Policy as an Alternative Energy Strategy for Pakistan
After the first oil-price shock of 1973, a search for new energy policies was started all over the world. Changing one fundamental concept – that relating to the general development of energy supply and consumption – was, however, out of the question. The pre-1973 trend of development was maintained. The energy elasticities did not change. The old forecasts were still held to be valid and were considered now, as earlier, to be the objectives which a successful energy policy had to achieve. This was considered a prerequisite for high growth rates of GNP and improvements in living conditions, and energy consumption was regarded as an indicator of the level of economic development. Therefore, the focus was shifted to an enlargement of the supply of indigenous energy resources as a substitute for imported energy, so that dependence on foreign countries could be minimized.