Islamabad: Pakistan Economy Watch (PEW) has shown concerned over increasing energy price and said that it will slow down the social and economic growth resulting in serious issues.
While addressing a meeting President Pakistan Economic Watch , Dr Murtaza Mughal said on Saturday that Pakistanis are already among those nations using minimal electricity per capita while the frequent escalation in energy price can force some investors to move their industries abroad, it said.
The high cost of energy is hitting agricultural and industrial output, exports and masses which must be noticed, said Dr. Mughal,
He said that a common man is spending around 30 percent of his income to buy electricity while the average in the US stands at 1.1 percent of the total income.
President PEW said that an average German spends 2.3 percent on his income to pay the electricity bill, the Chinese average stands at 3.1 percent while ordinary Indian pay 13 percent of his income to get electricity.
He noted that massive corruption in power producing and distributing departments, incompetence, mismanagement and cronyism has left power sector dysfunctional while masses are made to pay the price.
The subsidy system will not resolve the problem of the power sector but only delay the resolution, therefore, the government should consider generating cheap electricity, he added.
Many successive governments have preferred costly power production over economical production for petty gains which should be tackled, he demanded.
He said that the government should review all the energy projects completed over the last ten years and rationalise their tariff so that masses and business community can get some relief.
Short-term fixes can never help the government to overcome the issues confronting power sector, he warned.
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