THE proposals of the Overseas Investors Chamber of Commerce & Industry, relating to Pakistan’s march towards a liberal electricity market, do not simply reflect the OICCI’s anxiety over the way reform is being executed. They also test the government’s willingness to transition to a robust Competitive Trading Bilateral Contract Market and power-wheeling framework. They expose a disconnect between reform aims and execution, and a power sector hampered by lack of regulatory clarity, transparency, predictable pricing and credible market institutions. It is this disconnect that worries investors. Their anxiety is........

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