The business community appreciated the move of Prime Minister Nawaz Sharif for ordering authorities concerned to take stern action against electricity and gas thieves, terming it a much needed initiative.
In a meeting held at Islamabad Chamber of Commerce and Industry (ICCI) on Tuesday, the businessmen said they would support all efforts of the government against the power theft mafia to control massive pilferage of electricity and gas.
Chairing the meeting, President ICCI Zafar Bakhtawari said that as per a NEPRA report, the country was losing power worth Rs40 billion every yearon account of electricity theft. The government had been providing a per annum subsidy of Rs394 billion to power sector, which showed how taxpayer money was being wasted.
He said that if this dangerous trend was not dealt with immediately, the country would never be able to overcome energy crisis that had already crippled trade and industry, and thus badly affected economic growth. Bakhtawari said that the government should introduce the latest technology and smart meters to control electricity theft.
Furhermore, he said that the deregulation of the power sector and the privatisation of GENCOs and DISCOs could also be another good option counter power theft and improve the performance of inefficient power companies.
He emphasised on the need for structural decisions and focussing on harnessing cheap energy sources including hydel, coal, solar, wind and biomass to counter the energy crisis.
The businessmen were of the view that the government should arrange equal load shedding in all the provinces so that businessmen could adjust their production schedules and for the people to cope with power outrages.
