Dispelling misconceptions about CPEC energy projects
Islamabad: The Power Policy of 1994 was introduced as the final solution to Pakistan’s electricity problems. Western countries and institutions praised the policy as one of the best initiatives in favor of the private sector. The World Bank and USAID worked with other multilateral donors to ensure the success of the policy by providing financial support. Both the World Bank and USAID supported the Private Sector Energy Development Fund, which extended special funding for Independent Power Producers (IPPs) under the Energy Policy. However, the policy proved disastrous for Pakistan. Instead of addressing the underlying issues or revising the policy, some
