Power to the People: Globalisation and the Energy Crises

18-02-2002

The World Bank and IMF are extensively involved in privatisation policies as advisers to governments, as private investors and through the provision of loan finance. Loan conditionality often includes privatisation of electricity distribution. Possibly inefficient public sector enterprises may be replaced with powerful private sector concerns, accountable to shareholders with no democratic responsibility in the country where they are delivering this essential resource. This is particularly significant in poorer countries where the institutional infrastructure is such that regulation is weak. In India, the Enron project is the single largest foreign investment and was once seen as the showpiece of India's commitment to globalisation and economic reforms. Now, India struggles on with Enron, Indonesia with PT Paiton and two dozen other private-sector power providers. In one way or another, so do Pakistan, the Philippines, and other emerging countries across the globe, from Brasil to Zimbabwe to Russia. Speakers include Kevin Danaher, Global Exchange, USA, Patrick Bond, Alternative Information and Development Centre, South Africa, Mary Lou Malig, University of Philippines, Phillippines, Jayati Gosh, Network of Development Economists, India and Adam Ma'anit, Corporate Europe Observatory, Netherlands Daniel Chavez from the Transnational Institute will chair the meeting. More information with Antonio Carmona Baez (carmonabaez@tni.org) Annelies Borsboom (a.borsboom@tni.org) full program of the evening at http://www.tni.org/acts/power.htm

Transnational Institute

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