IPPs: The Real Issues

Since May 1998, an important issue facing Pakistan policy-makers has been whether independent power producers (IPPs) produce expensive electricity. It is contended that IPPs’ expensive power has rendered the state utility, Water and Power Development Authority (WAPDA), bankrupt. It is also alleged that IPPs indulged in corruption and colluded with WAPDA officials to get their signatures on contracts which allowed procurement of expensive power by WAPDA and which it can ill afford now. This paper shifts through the rhetoric surrounding IPPs and focuses on the central issue of whether IPPs produce expensive power. If it can be established that IPPs produce cheaper power than WAPDA, then the second part of the argument that WAPDA became financially weak because of IPPs’ expensive power is destroyed. The alleged corruption issues are not discussed as they are beyond the scope of the paper. Section 1 provides a background to the establishment of the private power sector in Pakistan. Section 2 discusses various project risks faced by shareholders and lenders. Section 3 outlines the components of the electricity tariff. Section 4 traces the reasons for increase in electricity tariffs since 1994 when the Power Purchase Agreements (PPA) were signed. Section 5 shows the comparative costs of production of IPPs and WAPDA.

IPPs: The Real Issues

Since May 1998, an important issue facing Pakistan policy-makers has been whether independent power producers (IPPs) produce expensive electricity. It is contended that IPPs’ expensive power has rendered the state utility, Water and Power Development Authority (WAPDA), bankrupt. It is also alleged that IPPs indulged in corruption and colluded with WAPDA officials to get their signatures on contracts which allowed procurement of expensive power by WAPDA and which it can ill afford now. This paper shifts through the rhetoric surrounding IPPs and focuses on the central issue of whether IPPs produce expensive power. If it can be established that IPPs produce cheaper power than WAPDA, then the second part of the argument that WAPDA became financially weak because of IPPs’ expensive power is destroyed. The alleged corruption issues are not discussed as they are beyond the scope of the paper. Section 1 provides a background to the establishment of the private power sector in Pakistan. Section 2 discusses various project risks faced by shareholders and lenders. Section 3 outlines the components of the electricity tariff. Section 4 traces the reasons for increase in electricity tariffs since 1994 when the Power Purchase Agreements (PPA) were signed. Section 5 shows the comparative costs of production of IPPs and WAPDA

The Controllability of Monetary Aggregates in Pakistan

The introduction of new financial i'nstruments l and the consequent asset substitutability since the advent of financial deregulation in 1991 has been accompanied by volatility of the money multiplier and the monetary aggregates. While money demand studies exist [Khan (1980)], the modelIing of the supply side of money and, in general, the impact of financial innovations on money multipliers and monetary aggregates has been largely ignored.2 In a recent study, Siddiqui and Waheed (I994a) found that during 1992-93 the narrow money multiplier felI and increased sharply, causing instability in MI. It was also observed that the broad money multiplier showed similar instability during the same period

The Controllability of Monetary Aggregates in Pakistan

The introduction of new financial instruments and the consequent asset substitutability since the advent of financial deregulation in 1991 has been accompanied by volatility of the money multiplier and the monetary aggregates. While money demand studies exist [Khan (1980)), the modelling of the supply side of money and, in general, the impact of financial innovations on money multipliers and monetary aggregates has been largely ignored. In a recent study, Siddiqui and Waheed (1994a) found that during 1992-93 the narrow money multiplier fell and increased sharply, causing instability in M1. It was also observed that the broad money multiplier showed similar instability during the same period. While financial innovations have been reflected in multiplier instability, inflation and monetary aggregates have also shown an upward trend. Since 1988-89 monetary assets (M2) have registered an increase of 137 percent with an accompanying inflation increase of 60 percent on average. This makes a strong case for controlling the growth of monetary assets in Pakistan.

Women are More Utilitarian for their Credit Card Usage

This paper aims to present the individual differences among credit card users with reference to their age and Sex. Data for the research were collected through a survey of customers of Credit Card users in Pakistan.  The results show that some age and Sex differences exist in the credit card usage. The research focuses on credit card services in Pakistan; further research from dispersed geographic areas may be necessary before generalization can be made on the entire service industry. Service providers can use this model for their market segmentation and targeting activities leading to better positioning their products/services in the competitive banking services. Although there are studies on individual differences of services; research on individual differences on credit cards is very limited; this research adds significant value on the subject area. Keywords: Age differences, Sex differences, Consumer Behaviour, Credit Card, Service

Randomised controlled trial: comparing effects of metformin versus myoinositol versus metformin and myoinositol on ovarian functions and metabolic factors in polycystic ovarian syndrome

Background: Polycystic ovarian syndrome (PCOS) characterized by anovulation and features of hyperandrogenism (clinical or biochemical) and insulin resistance. Metformin and myoinositol being insulin sensitizers improve clinical and biochemical parameters. This study was done to compare the effects of these drugs on clinical features and biochemical profile.Methods: A randomized, comparative, clinical study was conducted on 72 patients. The patients were randomized with the help of computer-generated random numbers and were allocated to either of the three treatment groups A, B and C. Patients in group A received metformin 500 mg TDS, group B received myoinositol 1000 mg BD, group C received combination of metformin 500 mg and myoinositol 550 mg BD for 24 weeks. At first visit patients detailed history and baseline investigations were recorded. Follow up was done 24 weeks after start of therapy to assess the improvement in clinical and biochemical profile.Results: There was significant improvement in menstrual irregularities, cutaneous manifestations, pregnancy rate, LH/FSH ratio, insulin sensitivity and HOMA-IR after 24 weeks of treatment in all three groups (p value <0.05), although there was greater improvement in cases treated with combination of metformin and myoinositol than metformin and myoinositol alone.Conclusions: The combination of metformin and myoinositol has resulted in more significant reduction in insulin resistance and improvement in metabolic and hormonal profile along with regularization of menstrual cycles and spontaneous conception than metformin and myoinositol alone

PAS: A Sampling Based Similarity Identification Algorithm for compression of Unicode data content

Generally, Users perform searches to satisfy their information needs. Now a day’s lots of people are using search engine to satisfy information need. Server search is one of the techniques of searching the information. the Growth of data brings new changes in Server. The data usually proposed in timely fashion in server. If there is increase in latency then it may cause a massive loss to the enterprises. The similarity detection plays very important role in data. while there are many algorithms are used for similarity detection such as Shingle, Simhas TSA and Position Aware sampling algorithm. The Shingle Simhash and Traits read entire files to calculate similar values. It requires the long delay in growth of data set value. instead of reading entire Files PAS sample some data in the form of Unicode to calculate similarity characteristic value.PAS is the advance technique of TSA. However slight modification of file will trigger the position of file content .Therefore the failure of similarity identification is there due to some modifications.. This paper proposes an Enhanced Position-Aware Sampling algorithm (EPAS) to identify file similarity for the Server. EPAS concurrently samples data blocks from the modulated file to avoid the position shift by the modifications. While there is an metric is proposed to measure the similarity between different files and make the possible detection probability close to the actual probability. In this paper describes a PAS algorithm to reduce the time overhead of similarity detection. Using PAS algorithm we can reduce the complication and time for identifying the similarity. Our result demonstrate that the EPAS significantly outperforms the existing well known algorithms in terms of time. Therefore, it is an effective approach of similarity identification for the Server

Emotional Intelligence: Source of Self‐Efficacy Among College‐Level Instructors of Pakistan

Perceived importance of emotional intelligence has increased significantly in the past few decades; thus, it is suggested for everyone to acquire adequate skills beyond theoretical or mechanical knowledge and make themselves emotionally fit and stable. The study is designed to provide an explanation for the shared results of teacher's self‐efficacy and their emotional intelligence. Two hundred and sixty‐four (101 males, 163 female) instructors from public colleges situated in Karachi, Pakistan, were selected through random sampling. Data gathered through emotional intelligence scale adapted from Daniel Goleman model of emotional scale and Bandura's instrument of teachers’ self‐efficacy. Hypothesis testing achieved through regression analysis using SPSS version 20 suggested that emotional intelligence directly and significantly affects self‐efficacy. In addition, age and years of experience of participants in particular field have indicated significant impact on emotional intelligence but self‐efficacy is influenced only by age, not by experience. It is also concluded from hypothesis testing that there is no association of emotional intelligence and self‐efficacy with gender of participants. It is suggested that amateur teachers’ self‐efficacy can be advanced through professional training, especially related to emotional intelligence

Role of Tuition Centers in the Performance and Achievement of Students: A Case of Hyderabad District, Sindh, Pakistan

This research is designed to explore the importance of tuition centers in the perception of students. It tries to find out the role, supporting methods, environment and good characteristics of tuition centers, their owners and management to support the student to learn effectively and bring good grades in their board examinations. A qualitative research method employed to collect data from the 30 participating students who receive tuition at different centers of Hyderabad district. Semi-structured interview protocol was design; discussed with five experts of field; improved as per suggestions of field experts; piloted on three students; and then implemented and conducted on the recruited sample of students of class Higher Secondary Certificate -II (XII) in order to collect data. The results revealed that the students who receive tuition at different centers bring good grades in their examination and have suitable knowledge about their subjects taught at centers. Their previous grades were found good and attractive such as A-1 and A with more than 80% and 70% marks respectively, due to coaching received at tuition centers that time, reveled from experiences shared by students