Broken power sector swallows $45 billion in a decade.

Islamabad -- President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, FPCCI's Businessmen Panel Sr. Vice Chairman, and former provincial minister Mian Zahid Hussain on Monday said failed state-run companies continue to damage the country.

The matter should be resolved otherwise, the economy will never take off and the country will remain dependent on loans for survival, he said. Mian Zahid Hussain masses have to pay trillion to keep these dysfunctional units running and keep jobs of the incompetent and corrupt.

Talking to the business community, the veteran business leader said that World Bank in a recent report said that power sector gobbled up 45 billion dollars in a decade and that cost of power production is 25 percent higher in Pakistan as compared to regional countries because of wrong power purchase agreements.

The former minister noted actual losses of the power sector may be double than the cited figure and the circular debt has increased to 2.2 trillion rupees...