Islamabad May 6 2024: Pakistan stressed on the need for enhanced cooperation between power ministry and World Bank working group for privatization of DISCOs in order to resolve circular debt issue.
Federal Minister for Petroleum Dr Musadik Malik and Federal Minister for Power Awais Leghari held a meeting with Mr Martin Raiser, South Asia Regional Vice president of World Bank. Both sides exchanged their ideas regarding reforms agenda and discussed in detail the support World Bank is providing to Pakistan in form of technical assistance. Dr Musadik Malik expressed his profiund gratitude for World Bank’s consistent support for reforms in energy sector.
Power Minister Awais Leghari appreciated the collaboration with the World Bank aimed at bolstering efficiency and service delivery within the power sector. He stressed on the need for enhanced cooperation for privatization of DISCOs. A joint working group will be formed for betterment of transmission and distribution network. He touched upon the initiatives already undertaken for system efficiency including the restructuring of BoDs of DISCOs.
Mr Martin coined that energy is the key focus area and pillar of World Bank’s engagement with Pakistan. He showed full commitment for working together and providing all support for structural reforms to shift to a low cost energy mix. The link of gas and power sector is fundamental to balance out the circular debt.
Technical assistance from World Bank goes long way and help us in structuring many governance models. We have separated the Tariff of the rich and poor, remarked the Petroleum Minister. He outlined the areas in the gas sector where joint efforts could yield significant benefits for stakeholders across the value chain. World Bank has expertise in governance framework and Pakistan would benefit alot from World Bank’s global experience.
