Islamabad: Finance Minister Senator Muhammad Aurangzeb has underscored the need for a structured and time-bound reform process in Pakistan’s power sector to enhance regulatory frameworks and promote investment. He made these remarks while chairing the inaugural meeting of the Steering Committee on Power Sector Regulatory Regime – Improvement and Reforms, convened in the capital city.

According to Radio Pakistan, the Steering Committee was established by the Prime Minister to facilitate reforms aimed at strengthening the power sector’s regulatory framework, promoting efficiency, and fostering competition. During the meeting, Finance Minister Aurangzeb emphasized the necessity for reforms to yield tangible improvements in sector performance and investment outcomes.

The Committee reviewed the current regulatory regime and deliberated on strategies to enhance the investment and operating environment. Emphasizing the significance of private-sector participation, Aurangzeb called for a comprehensive roadmap with defined timelines and responsibilities. The Committee also highlighted the importance of a clear, predictable, and consistent regulatory framework to attract long-term investments and ensure sector efficiency and competition.

Discussions extended to aligning regulatory and policy frameworks with international best practices, considering Pakistan’s specific institutional and market conditions. The Committee advocated for reforms that support investment and sector efficiency while maintaining transparency and regulatory certainty.

The meeting considered the role of the Technical Working Group in conducting detailed analyses and developing proposals for the Steering Committee’s consideration. Structured engagement with investors and stakeholders was recommended to gather feedback and identify areas for regulatory improvement.

The Steering Committee will review and approve proposals from the Technical Working Group, oversee their implementation, and provide policy directions to relevant ministries and agencies to ensure timely enactment of the reforms.