Pakistan’s power sector stands at a crossroads. The Power Division has shown much needed improvement under the leadership of Minister of Power and crisis response are better than before. Tariff has also come down substantially, but good administration is not reform. If the Competitive Trading Bilateral Contract Market (CTBCM) is launched hastily, without fixing its flaws, it risks becoming another expensive illusion.

After a decade of planning and billions spent on IT frameworks, CTBCM still lacks credibility. Consultation has been shallow. A few roadshows in select cities and seminars in universities are showcased as stakeholder engagement. But industry, the real stakeholders aka industrial associations and chambers, remain excluded. Critical questions are brushed aside. When smaller industries asked why only 1 MW users qualify in a seminar, the reply was simply: “tough luck.”

Contradictions run deep. Hybrid consumers, which were once........

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