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Why does rational policy fail in the irrational public systems? - The Financial Daily
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Why does rational policy fail in the irrational public systems? - The Financial Daily
Since the early 1990s, Pakistan’s power sector has undergone repeated structural reforms intended to improve operational efficiency and reduce the financial burden on public finances. In theory, each step was rational and well-designed. The 1994 Power Policy, for example, was introduced to rapidly overcome generation shortfalls by attracting private investment through Independent Power Producers (IPPs) and guaranteed Power Purchase Agreements (P…
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