Boston, MA -- (ReleaseWire) -- 06/10/2014 -- BMI View: Power shortages in Pakistan have increased in severity over Q114 and the sector could face additional risks from unhappy civilians resorting to violence, destroying transmission and distribution assets. On a brighter note, the strict crackdown on power bill debtors has led to several government offices to pay their bills as electrici ty to offices were cut. The move to stop providing employees of the Water and Power Development Authority (WAPDA) with free electricity is another positive for the sector, reducing the burden on the government and the sector .
The Pakistani government appears successful in achieving some progress in the area of financing its power projects, with China and UAE agreeing to finance the Thar and Gaddani projects respectively. Efforts to crack down on power bill debtors have also forced the government to fork out some money, with various offices including the Prime Minister's office, facing power outages for a brief period of time until some payments were made. However, the crackdown, together with the soaring temperatures on the ground, have worsened the power shortage.
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Although the government promised to usher in changes to the current myriad of problems, progress, while present, has been slow like its predecessors. Corruption and complicated bureaucracy continue to hamper the business environment, discouraging foreign investment, while provincial and federal governments seem to be losing the fight against the 'entitlement' mindset that many citizens have, which often leads to unpaid bills and electricity theft. Even with the government's plan to privatise, either partially all fully, 31 state enterprises we believe this will only provide a temporary relief to the ongoing problem of circular debt that continues to cripple the country. We maintain the government must push to end power subsidies and raise taxes to put the country and sector back on the path of growth. Otherwise, we expect current improvements to fade...
The Pakistan Power Report features Business Monitor International (BMI)'s market assessment and independent forecasts covering electricity generation (coal, gas, oil, nuclear, hydro and non-hydro renewables), electricity consumption, trade, transmission and distribution losses and electricity generating capacity.
The Pakistan Power Report also analyses the impact of regulatory changes, recent developments and the background macroeconomic outlook and features competitive landscapes comparing national and multinational operators by sales, market share, investments, projects, partners and expansion strategies.
- Use BMI's independent industry forecasts for Pakistan to test other views - a key input for successful budgeting and strategic planning in the power market.
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