Many a time I had said to my friends that time will tell as to how badly Wapda (inclusive of all its departments) is being run, and indeed there is no better testament than reality. PEPCO has not been dissolved, the power shortfall has increased up to 6500 MW while power sector loses have increased to 27 percent (though manipulated numbers show 19-20 percent). In terms of cost, one percent equals six billion rupees. Boards have been announced but not notified. New CEOs have not been appointed. DISCOs, GENCOs, NTDC have not been made autonomous.
There is no new power project which has even been formulated in the past three years, let alone achieving financial close. Circular debt has increased to additional Rs 200 billion after the transfer of Rs 301 billion to PHL. The Nandipur 425 MW power project has been grounded on demands of commissions. RPPs like Karkey are costing $ one million every three days without producing contracted power and most PSEs have been drained to bankruptcy.
Corruption is rampant. PEPCO and its companies are placing orders in a wild spree, and extracting upfront commissions, political manipulation is at its highest and the overall reform program is headed to nowhere.
The World Bank, USAID, ADB and FODP experts should use more prudence and should not be misguided by corrupt ministers and secretaries. They must have the sense and sensibility to distinguish between good and bad, ability and incompetence, solution and failure.
As I see it there is no hope, even a little bit, for the people of Pakistan to get any respite from Wapda and its allied departments.
ISHAQ KHAN KHAKWANI
Karachi