Transforming Pakistan's Power Sector: Operationalising a Competitive Wholesale Electricity.

The power sector in Pakistan has faced challenges in transitioning from government-controlled utilities to a competitive market structure. This has resulted in inefficient decision-making, bureaucratic delays, and a lack of accountability. The pace of implementing market reforms has been slow, and monopolistic structures hinder competition and innovation. Regulatory bodies lack independence and authority, and limited capacity within the regulatory and institutional frameworks impedes effective oversight. To address these challenges, interventions have been made for market reform, including the development of legal, policy, regulatory, and institutional frameworks. Operationalizing wholesale electricity markets and encouraging private investment are necessary steps for improving the power sector. Encouraging investment in modern technologies and infrastructure, implementing differential tariff regimes, and learning from global best practices can also enhance the sector's financial viability and sustainability. Overall, transitioning to a competitive and efficient market requires comprehensive and well-coordinated reforms across various dimensions. [Extracted from the article]