Pakistan mein high electricity tariffs ka masla har forum par discussions ka point bana hua hai. Government ne electricity tariff ko kam karne ke liye kuch tajweezat pesh ki hain, jin mein sab se zyada highlight kiya gaya hai Power Purchase Agreement (PPA) terms ko “take & pay” arrangement mein tabdeel karna, jo ke abhi “take-or-pay” mechanism ke zaryie ha.
Lekin IMF ke mandates ki wajah se, state ke paas tariffs kam karne ka bohot zyada mauqa nahi hai.
Electricity tariffs ko kam karna mulk ki ma’eeshat ke liye acha sabit ho sakta hai, kyun ke is se business karne ki cost kam hogi, average inflation kam hogi, aur industrial production ko farogh milega.
Coverage power sector universe mein, lagta hai ke HUBCO relatively shielded reh sakta hai, jab ke NPL aur NCPL ko zyada earnings attrition ka samna karna par sakta hai. HUBCO ke base aur Narowal plants ko bhi “Take-and-pay” ke amal se nuqsan ho sakta hai. Magar HUBCO ke teen plants CPEC umbrella ke andar hain; aur Chinese ke sath negotiations ki possibility nahi lagti. Is ke ilawa, HUBCO apne revenue stream ko diversify bhi kar raha hai.
Agar “Take-and-pay” arrangement apply hota hai, to HUBCO ki earnings par maximum potential impact approx 13% hoga (CPEC projects ka asar alag hai), jab ke NPL/NCPL ki earnings mein approx 50% tak kami dekhne ko mil sakti hai.
