ISLAMABAD: The Power Division signed a Transaction Advisory Services agreement with the International Finance Corporation on Monday. The deal aims to modernise Pakistan’s electricity distribution system. PTV reported the development.
The government will install smart meters for about 10 million electricity consumers across Pakistan. The plan will attract local and foreign investment. It will also support a shift toward a digital power system.
The government derived a project under the prime minister’s vision. It accelerates digital transformation in transmission and distribution networks. This program supports wider power sector reforms. These reforms aim to improve efficiency, reduce theft, and increase billing transparency.
The government reduced smart meter costs by around 40% through an international competitive process. It makes smart meters mandatory for all new electricity connections. It phases out traditional meters to support the digital shift.
Authorities will convert existing three-phase, commercial, and industrial connections into smart meters in phases. They will also fix faulty meter issues. The National Electric Power Regulatory Authority has approved the process and allows faster implementation.
The rollout improved bill recovery and reduced system losses. It strengthens overall efficiency in the power sector. It also improves financial stability and reduces operational waste.
