The Pakistan Economy Watch (PEW) on Tuesday said government’s decision to bring five key regulatory bodies under concerned ministries will have an impact on the reputation of the country.
The decision to bring five key regulatory bodies under concerned ministries will raise questions about transparency, hit the image of the country internationally while striking the confidence of the investors.
The government has taken the surprising decision recently despite the fact that it had agreed with IMF and World Bank to give more autonomy to the regulators, said PEW President Dr Murtaza Mughal,.
The government promised additional powers to the regulators before getting loan and now it has taken a U-turn which would contribute to the deterioration in the institutions, he added.
He said that the controversial decision has empowered the ministries and investors which will skin the masses without any fear or hindrance. Now the ministries responsible for providing electricity and gas will frequently revise prices of energy damaging masses, agriculture and industry.
Bringing PPRs under Finance Division will open the gateway for corruption in the tender process, he added.
