Ostensibly succumbing to the pressure of financial institutions including World Bank, Asian Development Bank, International Monetary Funds (IMF), USAID etc, the caretaker government has denotified the appointment of Wapda chairman Syed Raghib Shah as power sector coordinator.
Earlier, Water and Power Development Authority (Wapda) Chairman Syed Raghib Hussan Shah was made the power sector coordinator with an aim to turn around the entire power sector, which is besieged with circular debt causing scheduled or unscheduled hours long power outages. More, the masses from a long time have been bearing heavy brunt due to announced or unannounced load shedding and electricity tariff hike.
The ministry was under immense pressure after the threat of halting credit line worth in billion of rupees (Rs300-400billion) from International financial institutions (IFIs) over reversing power sector reforms, sky high subsidies being given to the power sector and last nut not least putting all the entities (Discos & Gencos) under the umbrella of Water and Power Development Authority (Wapda) by appointing Raghib Shah as power sector coordinator.
The IFIs particularly USAID were annoyed over the breach of agreed terms.