Smoke rises from the cooling towers of the power station on November 28, 2023. — AFPKARACHI: The core issue of Pakistan’s power sector -- underutilisation of generation capacity -- remains unresolved despite renegotiations of independent power producers’ power purchase agreements and a shift from a ‘take-or-pay’ to a ‘hybrid take-and-pay’ model, according to a recent study.“There is an urgent need for comprehensive reforms to enhance efficiency, optimise capacity utilisation,...