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40 billion dollars annually the cost of wrong policies in the electricity sector
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Economy News-Baghdad
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Added 08/20/2023 - 11:46 AM
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Economy News-Baghdad
The former Minister of Electricity, Louay Al-Khatib, reviewed the reality of the energy sector in Iraq.
Al-Khatib said in a statement to "Al-Iqtisad News" that the most important obstacles that hinder efforts to reform it, including laws and legislation that require amendments and new legislation that suit the steady development in this sector, in addition to that government support for the electricity bill, which encourages large consumption as the low price of the goods increases demand it.
He added that, the importance of cumulative and integrative work because the process of developing the energy sector is a foundational process that cannot be fragmented, as the fragmentation of the energy sector in Iraq between three ministries (electricity, oil, and industry) and punished by more than 35 ministers made it a fragmented sector.
With regard to the privatization of the electricity sector, Al-Khatib indicated that privatization should include the entire chain (production, transmission, distribution, collection) and not just one of them.
He added that the cost of wrong policies in the electricity sector annually amounted to 40 billion dollars, 20 billion the cost of government support and 20 billion indirect losses is the value of missed opportunities that should have been added to the domestic product due to the scarcity of energy supply for the Iraqi economy.
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Added 08/20/2023 - 11:46 AM
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