Federal Minister for Power Sardar Awais Ahmad Khan Leghari on Thursday met with a delegation of the Asian Development Bank (ADB) led by Joonho Hwang, Director Energy.
The meeting focused on energy sector reforms in Pakistan, privatisation of distribution companies (DISCOs), the Public-Private Partnership (PPP) model and future areas of cooperation, said a press release.
The minister appreciated ADB's continued support, especially in promoting the PPP model and integrated energy planning.
He informed that in the first phase, three DISCOs will be privatised, where both investment and technical assistance will be welcomed.
The minister added that the government is prioritising clean energy, has already introduced a new tariff for electric vehicles and seeks international cooperation to improve grid and metering systems.
He also highlighted that Pakistan has shut down around 2,800 MW of fossil fuel power plants ahead of schedule as part of its environmental responsibility and now seeks access to green financing and carbon credits.
Joonho Hwang expressed pride in ADB's partnership with Pakistan's energy sector. He informed that $130 million has been approved for Pakistan's energy sector, out of which an initial $30 million is immediately available. He reaffirmed that the ADB values Pakistan's efforts to promote green financing and that world bank team will review projects from the initial stage to ensure maximum benefit for Pakistan.
He further assured that ADB will extend full support in privatization, establishing a carbon market, modernizing transmission and distribution systems and advancing renewable energy projects in Pakistan.
The minister reaffirmed the government's commitment to transparency, sustainability and use of modern technology in all energy projects. He emphasized that the ultimate goal of government policies is to provide affordable and sustainable electricity to the public, for which international partnerships are of critical importance.
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