World Bank looks to new investments under public-private partnerships model
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
The World Bank Group is looking into new investment opportunities through private-public partnerships in Pakistan besides supporting the expansion of modern digital metering systems across the power utilities in the country.
Two related delegations of the World Bank and its commercial arm, the International Finance Corporation (IFC), had detailed engagements with the ministers of finance and power on Monday. The two sides also had a consensus on retaining the National Transmission and Despatch Company (NTDC), the operator of the national grid, in the public sector instead of its privatisation.
A high-level delegation led by Mr Pankaj Gupta, World Bank’s Regional Director for Infrastructure, had a detailed meeting with Power Minister Sardar Awais Ahmed Khan Leghari. The discussion focused on ongoing reforms in Pakistan’s energy sector, privatisation efforts, and opportunities for long-term collaboration, a statement said.
The minister briefed the delegation about the government’s priority towards promoting public-private partnerships (PPP) to better harness investment and technical expertise.
“We are currently at a critical stage in privatising distribution companies. We aim to meet future generations’ energy needs in a cost-effective and sustainable manner. For this, we must make difficult but necessary decisions”, he was quoted as saying. The “government is revisiting net metering and solar energy policies to align with current needs”, the minister told the delegation.
Pankaj Gupta emphasised that energy remained one of the World Bank’s top priorities and noted Pakistan’s remarkable potential for renewable hydropower, particularly through the Indus River system.
“The World Bank seeks to develop a comprehensive, long-term plan with Pakistan’s power sector, enabling alignment with the Bank’s ten-year strategic framework for the country,” he said.
The two sides agreed to jointly develop a long-term partnership plan with NTDC to advance reforms and attract sustainable investment in Pakistan’s energy sector.
Separately, a delegation of IFC led by Ms Linda Rudo Munyengeterwa, Global Director for Public Private Privatisation & Corporate Finance Advisory had a meeting with Finance Minister Muhammad Auragzeb.
Reference Link:- https://www.dawn.com/news/1904306
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
