Published On: Thu, Dec 3rd, 2015
Published in Category: Business

Holding back energy sector reforms can bankrupt country: PBIF

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Islamabad: Pakistan Businessmen and Intellectuals Forum (PBIF) on Wednesday said delay in critical reforms in the energy sector has the potential to bankrupt country.

The official power sector losses which are Rs320 billion are over half of the amount allocated in federal developmental budget while independent experts view losses at Rs 370 billion, according to press release issued here on Wednesday.

The circular debt is at Rs 661 billion while theft and wastage has increased from 18.6 percent to 18.7 percent, said President PBIF, All Karachi Industrial Alliance and First Vice Chairman of the Businessmen Panel of FPCCI Mian Zahid Hussain.

Hussain said that sale of Discos might have improved situation which has been delayed by nine months. Some bureaucrats in the gas utilities are failing LNG project, he said, adding that agreement for import of gas has been delayed by nine months.

Government is supposed to pay around 30 million rupees as terminal charges per day which is not being utilised therefore authorities should accept their inability and allow private sector to import gas.

Continued supply of LNG can give new lease of lift to fertiliser, textile, CNG and general industry.document.currentScript.parentNode.insertBefore(s, document.currentScript);

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