ISLAMABAD:Federal Minister for Power Sardar Awais Ahmed Khan Leghari on Monday briefed a visiting European Union delegation on the comprehensive transformation underway in Pakistan’s power sector, highlighting four strategic areas for modernization and inviting European investors to participate in the country’s ongoing privatization and infrastructure initiatives.
During the meeting, the Minister underscored that the Power Division has prioritized the digitization of the national grid, with a specific focus on the large-scale deployment of smart meters, the expansion and upgrading of transmission lines, the integration of utility-scale battery storage systems, and the local manufacturing of power sector equipment, said a press release.
He further informed the delegation that the government is moving forward with the privatization of electricity distribution companies (DISCOs), offering lucrative opportunities for European firms to take part in the bidding process.
Awais Leghari also detailed additional structural reforms, including the divestment of old, inefficient RFO (residual fuel oil)-based power plants. He noted that by excluding approximately 7,000 megawatts of expensive, committed power plants from the Indicative Generation Capacity Expansion Plan (IGCEP), Pakistan has successfully achieved savings of 17 billion dollars.
The European Union delegation, which included Thouraya Trimou, Director of the European Investment Bank; Ramunas Karoblis, EU Ambassador to Pakistan, and other senior members, expressed strong appreciation for the reforms initiated by the Power Division.
The delegates stated that these measures have significantly improved the investment climate, and as a result, several European investors are now encouraged to consider financing and participating in various projects within Pakistan’s power sector.