The government must take the advice of the International Monetary Fund regarding reforms and privatisation of power distribution companies and contain increasing theft.
ISLAMABAD:
Central leader of the Businessman Panel and Federation of Pakistan Chambers of Commerce and Industry’s former vice president Khurram Sayeed has asked the government to accelerate reforms in the power sector, the delay of which has compromised GDP growth.
The government must take the advice of the International Monetary Fund regarding reforms and privatisation of power distribution companies and contain increasing theft, he said in a statement issued here on Tuesday. He added that circular debt has reached Rs615 billion which is a threat to the economy and must be settled on a priority basis.
According to Sayeed, most of the economic indicators are moving in the right direction except for the country’s political temperature which continues to rise. He said that lower oil prices made it cheaper for companies to purchase raw materials, operate factories properly, and transport products improving their business performance.
Published in The Express Tribune, August 5th, 2015.
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