Well the solution is obviously upgrading the infrastructure.. Based on the last statistics I checked up to a couple of years a go Pakistan's generation capacity was higher than their Maximum Demand. We still had load shedding because you cant always match peak generation with peak demand as lot of power generation is hydro. That has changed now though, the maximum generation capacity is lower than maximum demand. The second problem is line losses. The lines, substations are old and there are high resistive losses. Then there comes the issue of electricity theft. But I dont think that contributes to load shedding as difference between the cumulative meter readings of an area and the meter reading at the substation is divided amongst the house holds. So basically everyone pays if one guy is stealing power.
The solution, there is no simple or single solution . Obviously it is investment in infrastructure and more generation. Pakistan has good sources of coal and natural gas. For short term more coal and CCGT power stations have to be built. A CCGT power station can be built under 3 years and are quite off the shelf . Coal stations take longer and require a larger investment. But will be eventually required. This will also include upgrading the transmission, distribution infrastructure.
We could also look into buying power from Iran and China by interconnecting the grids. Something similar to US/Canada or Europe. Privatising the generation sector where people can independantly sell power on the grid will also encourage development in the generation sector.
Long term we need to look into distributed generation. Things like Trigen and CHP. Where you can have one natural gas fired generator in a locality that will provide power and heating in the winters or cooling in the summers which will all be metered ofcourse. There is also a great potential for domestic scale solar generation in Pakistan. If each house gets lets say a 1KWp of solar panels installed then it not only reduces your electricity bills, it provides you with a back up source during load shedding. Much better than the power hungry UPS. Solar is expensive as well, but I think the upper class in Pakistan can take the initiative.
All in all, it requires a broad spectrum of solutions ranging from changing our habbits to creating investment incentives in the energy sector to government investments.