ISLAMABAD: Islamabad Chamber of Commerce and Industry has suggested government to privatize the energy sector in order to cope with the energy crisis that has slowed down the growth of economy.
Muzzamil Hussain Sabri, President, Islamabad Chamber of Commerce and Industry said that centralisation of energy policymaking and the federal government’s control over power generation, transmission and distribution companies are the main causes of persistent energy crisis and the best solution of this serious issue is to privatise the whole energy sector to bring competition and efficiency in the sector. He said Nepra’s recent “State of Industry” report has predicted that the prevailing energy crisis would continue till 2019/20 which is alarming because if not tackled on urgent basis, it would fail all efforts to revive the economy. He said that privatisation and liberalisation of telecommunication and banking sectors in Pakistan have produced highly beneficial results for the country as it greatly improved service delivery, gave new choices to the end consumers, brought down prices, created plenty of jobs and generated sufficient tax revenue for the government.
He said privatisation of energy sector would also lead to more efficient and reliable service delivery and free up government resources to spend on health and education instead of spending billions on subsidies.
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