Major news has emerged for electricity consumers across the country as the government has devised a plan to overhaul the system by securing loans from international financial institutions.
To modernize the electricity distribution infrastructure, the government intends to install smart meters on transformers managed by all power distribution companies (DISCOs) nationwide. Efforts will be made to secure loans worth billions of dollars from international financial institutions to fund this extensive project.
According to a report by a private television channel, a meeting was held under the chairmanship of Ahad Cheema, the Federal Minister for Economic Affairs and the Establishment Division, to review the development projects of the power distribution companies. The meeting also explored potential avenues for securing the financial resources required for the installation of these smart meters.
It was conveyed during the meeting that the Economic Affairs Division is actively working to arrange the necessary funding for the installation of smart meters on transformers across all DISCOs. The government plans to obtain loans amounting to billions of dollars from multilateral financial institutions for this purpose.
The government will engage in negotiations with the World Bank and the Asian Development Bank to secure financial backing for the project. An official statement detailing the meeting confirmed that smart meters will be installed across all power distribution companies throughout the country.
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