Unrealistic vision
When economic decisions are taken only to gain political mileage these can cause losses and embarrassments and sometime create misunderstandings with friendly countries. The PML-N criticised the previous government for neglecting the power sector and promised to end power shortages within a couple of years if elected. It was not realised that with no major power project installed during Musharraf’s nine years, it would take years of hardwork and sound planning before the shortages could be ended.
The PML-N had done little home work before it assumed power. This was subsequently borne out by the selection of Nandipur Power Project inaugurated in May 2014. During the next two months the plant-generated electricity at the record cost of Rs42 per unit and was shut down after only five days of operation. The cost of the project soon skyrocketed from the estimated Rs27 billion to Rs84 billion.
Nawaz Sharif’s signature mega power project at Gadani, meant to produce 6,600MW, was initiated amidst fanfare in March 2014. A hefty sum of Rs225.996 million was incurred on the project for preparation of its master plan, various feasibility studies, surveys, etc. The project, we are told now, has been put on the backburner. Khawaja Asif informed the National Assembly on Thursday that the project won’t be completed during the present tenure of the PML-N government, which implies that work on the project had been stopped. The minister claimed that the lack of commitment by Chinese investors led to the removal of the project from the actively promoted category. According to initial estimates, an investment of about $10 billion was required for the project. The Gadani Power Park plan obviously lacked economic viability leading prospective investors to shy away.
Instead of developing unrealistic visions, the political parties would do well to jointly work out vital economic projects that need to be implemented during the next 10 to 15 years and vow to complete them irrespective of who is in power.
