Inconsistent energy policies hit economy

Pak­istan’s energy sector is being managed by inexperienced and irresponsible individuals, which is leading the country’s economy toward a disaster, deplored Hyderabad Chamber of Small Traders and Small Industry (HCSTSI) President Mohammad Saleem Memon on Tuesday. Raising concerns about the government’s inconsistent and contradictory energy policies, he said expensive independent power producers (IPPs) were introduced without a comprehensive strategy. It later became evident these plants were being run on imported oil and coal, making electricity production exorbitantly expensive. In a statement, he said billions of dollars were spent, yet when electricity demand decreased, the government paid “capacity charges,” skyrocketing circular debt due to poor planning.