ADB delegation meets minister: ‘Investment needed to prepare Discos for privatisation’

ISLAMABAD: Minister for Power, Sardar Awais Khan Leghari has sought investment from development partners to prepare power Distribution Companies (Discos) for privatisation.

He floated this proposal with a delegation of the Asian Development Bank (ADB) headed by Country Director Xiaoqin (Emma) Fan which met with him here on Wednesday.

The Power minister and ADB delegation discussed cooperation in energy sector. The minister appreciated ADBs role in Pakistan’s energy sector.

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According to ADB’s Country Director, the bulk of ADB’s investments are focused on energy sector projects, particularly transmission infrastructure.

Sharing government’s reforms proposal, the Power minister said that the government is building a team at Power Planning and Monitoring Company (PPMC) which has replaced PEPCO, to provide policy guidance to the Power Division. ADB’s support will enable the deployment of the right people for the right job.

“There is a need for investment from our development partners to put the Discos in a better position before they are privatised,” Leghari added.

Energy sector plays a key role in Pakistan’s economic development and people’s lives, Emma Fan said adding that ADB is working on various projects to improve private sector development, climate change, and governance in Pakistan.

The Country Director said that ADB will help increase the sustainability, modernisation and efficiency of Pakistan’s energy sector.

Power Division, in its official statement, reiterated that like in the past, Pakistan and the ADB will continue to cooperate on energy sector projects.

The government is closely working with the World Bank’s team to prepare financially strong Discos for privatisation, however, current negotiations with the IPPs will hit the privatisation programme as the top bosses of the IPPs have conveyed this message to the Task Force at the highest level, said an insider.

Copyright Business Recorder, 2024