ISLAMABAD: Federal Minister for Petroleum Dr Musadik Malik and Federal Minister for Power Awais Leghari held a meeting with Martin Raiser, South Asia Regional Vice president of World Bank, said a press release.

Both sides exchanged their ideas regarding reforms agenda and discussed in detail the support World Bank is providing to Pakistan in the form of technical assistance.

Dr Malik expressed his profound gratitude for the World Bank's consistent support for reforms in the energy sector. Technical assistance from the World Bank goes long way and helps us in structuring many governance models. We have separated the tariff of 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. The World Bank has expertise in governance framework and Pakistan would benefit alot from the World Bank's global experience.

Power Minister Leghari appreciated the collaboration with the World Bank aimed at bolstering efficiency and service delivery within the power sector. He stressed the need for enhanced cooperation for privatisation of DISCOs. A joint working group will be formed for the betterment of the transmission and distribution network. He touched upon the initiatives already undertaken for system efficiency including the restructuring of the BoDs of DISCOs.

Martin coined that energy is the key focus area and pillar of the 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.

Copyright Business Recorder, 2024