## 1 Introduction  
Energy plays a dominant role in the economic development and is also a fundamental part of any nation's economy. It relates to energy security, economic development, and social stability. Electricity possesses vital value, and is considered the source of energy that supports every aspect of the economy [1; 2; 3; 4]. Over the past few decades, policy failures in the energy sector of Pakistan plunged the country into a severe power crisis, leading to the poor economic performance of the country. The demand of electricity is determined by the population growth as well as other factors, including electricity prices, people's migration to cities, and the weather. However, Pakistan's unique problems and the transformation of the electricity shortage and crisis are caused by theft, abuse, and the excessive usage of electricity in the industrial sectors and homes, unreasonably causing huge line losses, corruption, mismanagement, institutional weakness, and political controversy [5]. In 2011, the population growth in Pakistan was 176.17 million as compared to 79.98 million in 1980, and the growing population's demands are increasing, which directly affects the electricity escalation [6]. The South Asian Region (SAR) faces several deficiencies that affect the national system of electricity for a particular time. The electricity supply has not kept stride with the relevant growth and demand, resulting in a long-term downtime and frequent unplanned outages. These conditions have created difficulties for families and industries, and have hampered new investment in the business of any economy [7; 8; 9; 10]. Pakistan has a population of about 184 million people, and the rural population that is associated with agriculture is high. The agricultural sector has contributed about 25% of the gross domestic product (GDP), and provides employment for more than 40% of the labor force [11]. The installed power generation in 2011 was 21,036 megawatts. The demand of electricity is increasing by about 9% a year, while the supply is only about 7%, and the gap in the summer is even greater [12; 13]. Electricity generation sources in Pakistan include thermal energy (natural gas and oil), nuclear power, and hydropower. Renewable energy and coal are currently playing a secondary role, but are hoped to be boosted significantly in the coming decades [14]. The identified energy renewable resources are primarily solar energy, wind energy, and biomass. Hydropower, thermal, and nuclear power plants are a part of the hybrid industry in Pakistan. About 31% of electricity is produced by hydropower systems, 66.8% are produced by thermal systems, and the remaining 2.2% are produced by nuclear power. Further, the country imports 29.4% of its natural gas, 37.8% of its oil, 29.4% of its hydropower, and 0.26% of its natural gas in order to meet its energy needs. Coal and nuclear power have limited contributions to their energy supply, at 0.1% and 3.02%, respectively [15]. Currently, in Pakistan, the energy demand is of an average of 17,000 megawatts, while the shortage is of about 4000-5000 megawatts. In the coming years, the energy demand will increase further by approximately 500 megawatts in the next 10 years [16]. The electricity shortage reached 5500 megawatts in 2015, and the supply was 15,500 megawatts, with 23,000 megawatts of the installed capacity. The demand will rise in different sectors, including construction, agriculture, education, manufacturing, and most importantly, in sustainable development in order to boost the economic sector [17]. During the period of 2014-2015, the total electricity generation was 109,059 GWh, of which nearly two-thirds came from the thermal sources [18]. The electricity demand in Pakistan is driven by several issues, such as the rapidly growing population, electricity prices, economic expansion, urban resident flows, and weather.