Federal Energy Minister Sardar Ovis Ahmed Khan Lagari has said that for the first time in the history of the country, the “Free Energy Market Policy” will enter its final implementation phase in the next two months, after which the government’s power procurement will be permanently terminated.
The minister said that during a meeting with a high -level delegation of the World Bank, during the Middle East, North Africa, Afghanistan and Pakistan, Usman Donon led by the Regional Vice President of the World Bank.
The Federal Energy Minister said that under “CTBCM”, freedom trade trade will be possible in the market.
Under this model, “interested fees” and other mechanisms are being introduced and the role of the government will be limited only to the regulatory structure.
He clarified that transfer would gradually and under a comprehensive strategy so that the system can maintain stability.
During the meeting, Sardar Ovis Lagari informed the Delegation of the World Bank about the government’s energy reform, net measurement policy, privatization, regulatory reforms and investment opportunities.
He said that the inclination of Pakistan’s policy is clearly towards private sector promotion and transparency and we want international investors to become partners.
Mr. Osman Devon appreciated the reforms in the energy sector in Pakistan and emphasized that energy is the basis of development and the energy sector is very important for the development of any country, which is why the World Bank will continue to support Pakistan in this field.
He said that the World Bank stands shoulder to shoulder with the government to promote durable, reliable and proper energy system for investment.
The federal minister also presented a comprehensive booklet based on the ongoing reforms in the region and hoped that the current partnership would be strengthened in future.