ISLAMABAD – World Bank has released a new report on Pakistan power sectordepicting a saving of atleast $4.8 billion annually.
Power sector reforms can help Pakistan save $4.8 billion in business lossesannually as inefficiencies in the sector cost the country’s economy $18billion or 6.5 percent of GDP in the fiscal year 2015.
A new World Bank report said that the costs of defects and inefficienciesof the power sector are far greater than the previous estimates based ononly fiscal costs.
The report said that the reforms could save Pakistan’s economy $8.4 billionin business losses and could increase total household incomes by at least$4.5 billion a year.——————————
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The report titled “In the Dark: How Much Do Power Sector Distortions CostSouth Asia” states that Pakistan has made great strides in expandingelectricity access and capacity.
As many as 91 million more people are receiving electricity for the firsttime from 1990 to 2010. However, up to 50 million people still do not haveaccess to the national grid and frequent load shedding damages businesses,health and living standards of consumers.
