Islamabad, In an ambitious stride towards efficiency, the government is gearing up to transfer electricity distribution companies over to the private sector, a move revealed by the Minister for Energy, Muhammad Ali. The announcement came amidst a broader discussion on the comprehensive overhaul planned for the country’s transmission sector and the lucrative investment opportunities it might herald.

According to a news release by the Ministry of Information and Broadcasting, the disclosure took place during a seminar in Islamabad where Minister Ali elaborated on the extensive reforms currently in motion. Shedding light on the ongoing transformation of the transmission sector, he stated the anticipated influx of significant investments in this realm.

Highlighting the abundant potential within the nation for harnessing renewable energy sources such as solar, wind, and hydro, Minister Ali mentioned a noteworthy 600-megawatt solar project for which bids have been recently solicited. He pinpointed December as the deadline for these bids and expressed optimism regarding the participation of Korean companies.

The discourse further touched upon the topic of oil and gas exploration. Minister Ali conveyed that while the on-shore exploration activities have commenced, the offshore blocks are next in line to be opened for offers.