Wednesday July 06, 2022

Govt plans to generate 43,127 MWof electricity by 2018-19

By Zafaryab
February 10, 2016

Needless to emphasise that when the PML-N took over the reins of the government about two and half years back, Pakistan was confronted with formidable challenges. The economy was in a shambles; law and order situation was precarious and a grave energy crisis with incapacitating manifestations loomed on the country. The situation looked grim but certainly not discouraging vis-à-vis the commitment and enthusiasm of Prime Minister Nawaz Sharif who took these gigantic challenges head on. Today, the whole perspective has transformed into optimism for the real change is already in the making. The necessity-driven policy initiatives and the economic agenda pursued by the government during the last two and a half years have started bearing fruit in terms of a progressive turnaround in economy. The major economic indicators are pointing towards healthy prospects for a prosperous future. After the slack growth prior to 2013, the overall GDP grew by 4.24 per cent by the end of fiscal year 2014- 15, the highest in the last seven years. Per capita income recorded significant growth of 9.25 percent reaching $1,512 in 2014-15, while inflation has been curtailed to a single digit. It was with herculean courage and perseverance that the present leadership undertook to bring an upturn to the dismal atmosphere pervading the country. While on the one hand, the government paid attention to restoring law and order, it encouraged a culture of political accommodation and tolerance, on the other. The government successfully tried to take political leadership and other stakeholders on board relating major national issue. This helped restore peoples’ confidence by assuring them participation in decision making in line with the spirit of true democratic dispensation. It goes without saying that Pakistan has been facing serious energy crisis during the last decade or so. This has not only resulted in an economic slowdown, but is also reflective of the poor performance of successive governments. While a variety of factors can be cited for this worrisome state of affairs, poor governance, incompetence, lack of transparency, distribution and transmission losses and above all lack of interest on the part of the policy makers intensified. Large amounts, Rs300-400 billion were spent on subsidies with no plausible gains in sight. Ironically, despite these dole outs, the ‘circular debt’ kept on piling up which caused acute shortages of oil supplies to the