Islamabad: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, presided over the inaugural meeting of the Steering Committee on “Power Sector Regulatory Regime – Improvement & Reforms,” tasked by the Prime Minister to enhance the regulatory framework of the power sector. The committee aims to bolster efficiency, investment, and competition.

According to Press Information Department, the committee evaluated the current regulatory regime and deliberated on strategies to improve the investment climate and operational environment within the power sector. The discussions underscored the necessity of a stable regulatory framework to encourage private-sector participation and long-term investments.

The meeting highlighted the importance of aligning local regulatory and policy frameworks with international standards while considering Pakistan’s unique conditions. The committee stressed that reforms should facilitate investment and sector efficiency, with a focus on transparency and regulatory certainty.

The need for coordinated efforts among ministries and regulatory bodies was also discussed to address policy issues impacting the power sector. The Finance Minister emphasized a practical reform process with specific timelines to achieve tangible improvements in sector performance and investment outcomes.

Furthermore, the potential benefits of private-sector involvement in enhancing sector efficiency and competition were discussed. The committee called for a detailed roadmap with clear responsibilities and deadlines. The Technical Working Group’s role in providing analysis and developing proposals was reviewed, highlighting the need for structured engagement with stakeholders for feedback.

The committee resolved that the Technical Working Group would continue its work on identified issues, submitting proposals to the Steering Committee. The Steering Committee will then review, approve, and oversee the implementation of these proposals, issuing necessary directions to ministries for timely execution.

The meeting included participation from key figures such as the Federal Minister for Power, the National Coordinator of the National Crisis Management Cell, and other senior officials from relevant divisions and ministries.