KARACHI: Pakistan Economy Watch (PEW) on Sunday said that K-Electric is getting cheap gas, low-cost electricity from national grid, subsidy, loans worth Rs 130 billion but it has failed to deliver which has been proved through harsh statements by federal and provincial ministers.
“Masses are being squeezed to promote the interests of irresponsible elite who has become parasite on the national resources. Accountability, reforms and increasing tax base have become catchy slogans while privatization has become a tool to plunder national resources,” said PEW’s President Dr. Murtaza Mughal in a statement issued from Islamabad.
K-Electric is getting cheap gas, low-cost electricity from national grid, subsidy, loans worth Rs 130 billion but it has failed to deliver which has been proved through harsh statements by federal and provincial ministers, he added. The existing system is exploitative, anti-masses and titled in favour of nobility damaging country steadily.
Dr. Mughal said that despite failed privatization of K-Electric, the government was trying to sell profit-making power companies including that of Islamabad, Lahore, Faisalabad, Muzaffargarh etc. The privatization of power distribution companies amounts to leave masses on the mercy of merciless capitalists. A dysfunctional Nepra will never be able to safeguard interests of masses reeling under severe loadshedding after sale of power utilities to an influential banker.
Some experts suggest that circular debt in allowed to swell to get benefit from those seeking payment while the bill of a director of a gas company is never delayed. Dr. Mughal said that FBR missed last year’s target of Rs 2065 billion by Rs 25 billion but current target was set at Rs 3.1 trillion to please IMF which will meet the fate of earlier targets. The tax system is not transparent or just, it keeps on rewarding aristocracy on the cost of masses which is pushing country towards disaster, he concluded.