The Asian Development Bank (ADB) has allocated $130 million for Pakistan’s energy sector, with $30 million available right away. The support comes as the government speeds up reforms and moves forward with the privatization of power distribution companies.
During a meeting with Federal Minister for Power, Sardar Awais Ahmad Khan Leghari, ADB Director Energy Joonho Hwang reaffirmed the bank commitment to Pakistan. He said ADB will assist in the privatization of distribution companies (DISCOs), upgrading of transmission and distribution networks, development of renewable energy projects and creating a carbon credit market.
Minister Leghari then explained that three DISCOs will be privatized in the first phase, with both financial investment and technical help playing a key role. He underlined that the government is focusing on clean energy.
He further noted that Pakistan has already shut down nearly 2,800 megawatts of fossil fuel plants ahead of time to reduce environmental damage. He also mentioned that international cooperation is being sought to improve grid systems, metering and to secure green financing and carbon credits.
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The minister pointed out that new initiatives are underway, such as a special tariff for electric vehicles while stressing that transparency, sustainability and the use of modern technology remain central to government policies.
Hwang welcomed the reforms, praising Pakistan’s focus on green financing. He confirmed that the World Bank will review projects from the start to maximize benefits. He added that ADB is proud to continue supporting Pakistan through integrated energy planning and public-private partnerships.
