ISLAMABAD: The Pakistan Economy Watch (PEW) on Tuesday said that the government’s decision to bring five of important regulators under its control will have a negative impact on the country’s reputation.
PEW President Dr Murtaza Mughal said that he decision to bring five of the key regulatory bodies under the relevant ministries will raise questions about transparency. He also added that it would lead to deterioration in the country’s image in international circles while striking investor confidence.
The government recently took the surprising decision despite the fact that it had agreed with the International Monetary Fund and the World Bank to give more autonomy to regulators, he said.
He said that the controversial decision empowered the ministries and large investors who would now abuse the masses without any fear or hindrance. He added that after this decision, the ministries responsible for providing electricity and gas would revise energy prices frequently, damaging civilians’ lives as well as agriculture and industry.
Bringing the Public Procurement regulatory Authority under the Finance ministry would open the gateway for corruption in the tender process, he added.
