Mismanagement in energy sector hurting economy: Mian Zahid Hussain.

Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain said that lack of governance in the energy sector is hurting the country's economy.

The troubled economy has suffered billions of dollars in losses because of inefficiency in the gas sector, he said.

Mian Zahid Hussain said that masses and the economy are facing IMF conditions, money budget, inflation, weak currency and policies that contradict the ground realities.

Talking to the business community, the veteran business leader said that last month, in just 15 days the textile sector in Punjab suffered a loss of 250 million dollars due to gas load shedding which has also affected the country's reputation.

He said that the gas bureaucracy has been continuously failing to import LNG in a timely manner for the last two years, which is affecting the economy.

When gas was cheap, it was not imported and now its price in the international market is more than the purchasing power of Pakistani consumers.

Mian Zahid Hussain said that Pakistan has been importing LNG for six years and it has become the world's ninth largest LNG importer but it has failed to streamline the system and experiments are being done.

He noted that during all these years, neither gas pipelines could be built nor...