The same principle, in a different setting, lies at the heart of the proposed restructuring of Pakistan's gas sector. I shall restrict myself to the gas sector, where the question is whether unbundling two giant organisations can deliver what decades of reform rhetoric have failed to achieve. The transmission company must therefore function as a genuine common carrier, not as another state monopoly wearing a different corporate name. The danger is Pakistan may succeed in unbundling the companies but fail to unbundle the system. Otherwise, after years of discussing unbundling, Pakistan may discover that it has merely succeeded in bundling up the problem in several smaller packages.