By: Mawaiz Khan Akash
We accept and concede that Rome was not built in a day. Well, till today it's reality and originality is there without any contradiction or discrimination. The persuasive movements, untiring efforts and unmatched zeal towards a respected and an emerging state of South Africa, made the Romans a great Nation. Now the question appears how many days, weeks, months, years and decades we need to be thoroughly conversant with the importance of independence.
We are about to indemnify our 62 years of independence but to no use of its positive image. Once again, the beloved homeland at a curve where common minds couldn't decide to which destination they are proceeding to? Being a writer of business forum, I often come across many complications and apprehensions to what would be the future of business in a country where there is no maturity and mutualism among different political parties, where the political uncertainty and unsuitability is still hovering the country. The country, in which we couldn't be ensured the law & order situation so far, shows the reckless of our ruling party. The alarming factor is that none of the political party either in power or opposition expected to have been eager and conscious towards resolving alarming issues, pertaining to this homeland. Leave others, just take power sector for that empty slogans are chanted and many commitments and promises are honoured by the ruling party, but in vain.
Regrettably, none of the ruling party is interested or ever thought about long-term policies, which verifies the industry of one's country as holistic and futuristic way. We don't talk about Western countries rather to talk about our neighbours, including India, Bangladesh and Sri Lanka. Elaborately, they have all swept the future intentions while laying down the constructions of their dams and others sources of power.
Let's me comment on recent threatening of IPPs to government. The Independent Power Producers (IPPs) and other power generation companies are gradually decreasing energy supply to PEPCO due to non-payment of their outstanding dues by the government that might create a lethal power crisis in the country in the near future.
The country is presently facing a power shortfall of 1050 Megawatt (MW) that is likely to increase in the near future due to non-payment of outstanding dues by the government to IPPs and other power generation companies. The total power production as recorded a day earlier is 11130 MW against the demand of 12180 MW electricity in the country. Sources said that IPPs were presently not producing energy as per their capacity. The IPPs at present are producing approximately 4200 MW of energy against their total capacity of 5500 MW. The IPPs would further decrease their production, if the due payments would not be made to them.
The PEPCO owes at least Rs 170 billion to these companies and non-payment of these dues might create troubles for the country.
In this context it appraised due non-payment the IPPs would decrease supplying power to government, then the industry would come to close down, the unemployment's circle would spread all over the country, the investors would chalk our others means of investing, as a result we will be witnessing more backward country. No grim and proper policies have come to under a significant decision apart chanting empty slogans. The research and development departments of the country pertaining to many associations, have shown term and conditions of others to be availing long-term strategies of others countries but our administration is still turning a deaf ear to them. Our export would be double if the current ruling party shows a sincere co-operation with business community. Once again, it has be reduced the interest rate which almost to 18%. As we talk about other countries then their interest rate shows a satisfactory figure for example Australia has 3.25%, China, Hong Kong, India, Japan, Korea, New Zealand and Taiwan these have 5.31, 0.5, 5.5, 0.1,3, 3.0, and 1.5% respectively.
The interest rate is not the case to be resolved but bunch of others problems needs Govt. attentions. The government first and foremost ought to be maintained the political flow in the country that bases the economy. It needs such perspicacious minds, which could understand business politics along with country politics. The country needs such leadership and guardianship that could save the economy from being contaminated and decide one or the other way.  mawaiz.khan@businessmonitorpk.com