ISLAMABAD – Islamabad Chamber of Small Traders (ICST) on Sunday said masses should not be punished for mismanagement in the energy sector.
The government should introduce reforms in the power and gas sectors so that expenses can be reduced and relief could be provided to the masses, it said.
The energy sector is going down steadily since last three decades damaging masses and the economy which should be noticed, said Patron ICST Shahid Rasheed Butt.
He said that losses and theft of electricity have jumped from one billion rupees daily to two billion while the losses in the gas sector have jumped to Rs50 billion which cannot be ignored.
Shahid Rasheed Butt said that 26 percent of the electricity production is lost to mismanagement and theft which has pushed circular debt beyond Rs 1.5 trillion dragging down masses, industry, and agriculture.
The government has burdened masses by tens of billions of rupees in the first weak of April by increasing prices of electricity, petrol and LNG which is unjustified which is to hit the economy, he observed.
He said that gas distribution companies are getting forty percent premium on sale of gas but still showing losses to milk masses which merits a probe.
The country will need fifty billion dollars for import of energy in the next eleven years which will be more than current exports and remittances hence difficult to manage, therefore, reforms in the energy sector should not be delayed otherwise oil import bill will be enough to sink the economy.