Incoming govt to revamp all regulatory bodies

ISLAMABAD: Incoming federal government of Pakistan Tehreek-e-Insaf (PTI) will revamp all regulatory bodies by making them completely autonomous. These bodies are currently working under different line ministries.

Background discussions with different PTI leaders revealed that the overarching objective of the next PTI government would be to strengthen institutions, especially regulatory bodies.

The previous PML-N government ‘destroyed’ regulatory bodies by bringing five regulatory bodies under their line ministries: National Electric Power Regulatory Authority (NEPRA), Pakistan Telecommunication Authority (PTA), Securities and Exchange Commission of Pakistan (SECP), Frequency Allocation Board (FAB), Oil and Gas Regulatory Authority (OGRA) and Public Procurement Regulatory Authority (PPRA), were placed under the administrative control of their line ministries on 6 June, 2017.

“This was done by Ishaq Dar [the then finance minister] as he was a ‘control freak’ and his main objective was to stop institutions from taking decisions independent of the cabinet,” said a senior PTI leader.

He said that if institutions are made free of political interference, only then will they be able to perform, adding that institutional reforms will be on top of the agenda of the party after formation of the government.

Published in Business Recorder, 2nd August, 2018