Govt turns to global lenders for smart meters

ISLAMABAD:

The government has drawn up a plan to modernise the country's electricity distribution network by installing smart meters on transformers operated by all power distribution companies (Discos), with billions of dollars in loans expected to be sought from international financial institutions to finance the initiative.

The proposed project aims to upgrade the distribution system through the installation of smart meters across the country. The Economic Affairs Division is working to arrange the required funding through multilateral financial institutions.

According to a private television channel, the matter was discussed at a meeting chaired by Federal Minister for Economic Affairs and Establishment Ahad Cheema, where development projects of electricity distribution companies were reviewed.

The meeting also examined possible arrangements for securing financial resources to install smart meters on transformers operated by all Discos.

Participants were informed that the Economic Affairs Division was pursuing funding arrangements for the nationwide initiative, with the government intending to secure billions of dollars in loans from multilateral lenders.

The government will approach the World Bank and the Asian Development Bank (ADB) to negotiate financial assistance for the project. An official statement issued after the meeting confirmed that smart meters would be installed across electricity distribution companies nationwide.