Minister for Economic Affairs and Establishment Division Ahad Cheema has said that smart meters will be installed on transformers across all Distribution Companies (DISCOs).
He was presiding over a meeting in Islamabad today.
The Minister said smart meters installed on transformers would not only curb electricity theft and improve billing accuracy, but also protect consumers from overbilling and safeguard the interests of consumers, investors and the government.
The meeting reviewed development programmes for DISCOs and discussed the Economic Affairs Division’s efforts to arrange funding for installing smart meters on transformers across all DISCOs.
Negotiations with multilateral partners for development programmes would continue until privatisation is completed. If a DISCO is privatised while negotiations or programme preparations are under way, the relevant financing and development programmes would be transferred to the private investor as part of the handover, subject to agreed arrangements.
Ahad Cheema further emphasised that any new project undertaken by a private investor within a DISCO must be processed through competitive bidding and receive approval from the National Electric Power Regulatory Authority, as applicable.
The Minister stressed that the purpose of privatisation was not to shift costs or undue pressure onto consumers and said the government would facilitate the process while safeguarding consumers’ interests and ensuring that investors meet their financial and contractual obligations.
