ISLAMABAD
\nEmphasizing the urgent need to address line losses and electricity theft, the Federation of Pakistan Chambers of Commerce and Industry\u2019s Businessmen Panel (BMP) has cited its detrimental effects on the national economy and stressed the need for overhauling the power sector through some drastic measures as the total cost of inefficiencies in the power sector is constantly escalating.
\nThe FPCCI former president and BMP Chairman Mian Anjum Nisar encouraged the Discos to leverage technology and innovation in their efforts to eradicate power theft, as the objective should be to curtail indiscriminate power outages, especially to consumers who diligently pay their bills. He asked the government that that all obstacles hindering efforts to prevent electricity theft must be removed, warning that employees and officers involved in such illegal activities should be dealt with firmly and decisively.
\nHe also demanded that there should be no political interference in the campaign against electricity theft. He stressed that decisions should be made based on merit, ensuring a transparent and impartial approach. Mian Anjum Nisar stated that the circular debt crossed Rs4 trillion after an addition of Rs400 billion during the current fiscal year.
\nIn the present scenario, energy efficiency and conservation are the key measures taken by countries across the globe to mitigate the associated risks.
\nHowever, in the case of Pakistan, both energy efficiency and conservation are generally treated as alien concepts,\u201d he stated.The BMP Chairman stated that the circular debt stock has crossed Rs4 trillion after Rs400 billion were added to it during the current fiscal year. He said that in present scenario the energy efficiency and conservation are key measures used by countries across the globe to mitigate associated risks. However, in the case of Pakistan, both energy efficiency and conservation were generally treated as alien concepts.
\nHe noted that there was an urgent need for up-gradation of energy efficiency and conservation standards and strict enforcement, besides replacement of inefficient appliances and consumer awareness for responsible use of energy were other key areas which should be identified for action as a national priority. He estimated that a dollar outflow of around $ 1.25 billion could be potentially saved annually through implementation of efficiency and conservation measures.
\nThe Chairman said that the government is not ready yet to undertake structural reforms related to circular debt and management of state owned enterprises. Moreover, reliance on indirect taxes for meeting revenue goals is also a major issue meaning thereby that government should improve its taxation system if it wants to create a business friendly environment.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD Emphasizing the urgent need to address line losses and electricity theft, the Federation of Pakistan Chambers of Commerce and Industry\u2019s Businessmen Panel (BMP) has cited its detrimental effects on the national economy and stressed the need for overhauling the power sector through some drastic measures as the total cost of inefficiencies in the power […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-397696","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n