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