BY KIRAN MAHNAZ
Clean water scarcity is a global issue that is under debate for a long time. It is one of the most serious problems globally and Wall Street has started trading water as a commodity same as oil or gold due to its constant scarcity. Since water has joined as a commodity on Wall Street for trading in December 2020, there were concerns and speculations that the world is losing its water reserve more rapidly. It is estimated that only 71% population of the world has access to water and the rest of the world is in distress due to water shortage.
According to a UN report, water reserves are running low and nations could suffer a 40% of shortage in water supply by 2030. Ocean water on the planet is 97% and the total freshwater reserve is 0.5%, rest 2.5% of water is locked inside glaciers, too far under the ground. UNESCO report confirmed that agriculture is the huge consumer of fresh water and this sector accounts for 70% of freshwater consumption.
Desalination only accounts for 1% of use in the agriculture sector. Desalination through solar panels produces a very low quantity of water that is not the cost-effective method in agriculture. Approximately 19% of water is utilized for industrial use and the remaining quantity is consumed by the public. Government agencies are using different water treatments and technologies to reduce the demand-supply gap for the general public and to manage the risk of water loss.
Stock exchange investors also seek opportunities through investment in water-related companies in the Western world. These water linked private and government organizations are involved in infrastructure for water supply, treatment, and purification of water for supply in private & commercial sector and companies providing equipment and minerals for purification/ treatment process.
Major factors that are creating a high demand for water-related companies are an increase in global population, boost in urban population, and the urgent need for modernization in developed countries, government regulatory requirements to supply sufficient water to the public sector with safety measures and extreme climate change is causing a significant effect on water reserves. There is a lot of scopes to invest in new water-related technologies, for example, government agencies are investing money to combat severe droughts. Regions with extreme climates use the technology of cloud seeding to increase the amount of rain for better air quality and dealing with water scarcity as a temporary solution.
The Pakistani government should seriously look for a solution to increasing water scarcity because, in 2019, Pakistan was ranked number 14 on the global water-stressed countries index. The government needs to create policies for better infrastructure to avoid water loss. 1/3rd of water is lost in poor infrastructure in Pakistan. Water theft is a major issue in urban areas of Pakistan that is causing a supply gap for the poor neighborhood of those cities. These corrupted people are stealing water and selling water tankers on high revenues.
Agriculture is a major sector in Pakistan and there is a tremendous need to train our farmers for water productivity in agriculture and use methods that help in increase of crop vs. per drop of water. There is a 60% water loss due to our poor irrigation system in Pakistan. There should be more focus on government plans to help new start-ups of water-related organizations in Pakistan. In particular, the government should facilitate companies to develop strong R&D for advanced solutions that could supply a sufficient quantity of clean water in agriculture, industrial, and public sectors in the coming future. Pakistan is suffering from over-exploitation of existing water reserves, due to negligence of our government authorities and poor policies to save this natural resource. (Edited by Mamoona Shakoor)
Also Read: New program launched to enhance climate resilience, water security in Pakistan
