Islamabad (GNP): Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb chaired the inaugural meeting of the Steering Committee on “Power Sector Regulatory Regime – Improvement & Reforms,” a body established by the Prime Minister to review and drive forward reforms aimed at strengthening the sector’s regulatory framework while boosting efficiency, investment, and competition.
The Committee assessed the current regulatory environment and explored ways to improve conditions for investment and operations within the power sector, stressing the need for a clear, stable, and consistent regulatory framework capable of encouraging private-sector participation, drawing long-term investment, and enhancing both efficiency and competitiveness.
Discussions also focused on aligning Pakistan’s regulatory and policy framework with international best practices, while taking into account the country’s specific institutional and market realities.
The Committee agreed that reforms must simultaneously support investment and operational efficiency while maintaining transparency, appropriate oversight, and regulatory predictability.
Members further discussed the need for closer coordination among relevant ministries, regulatory bodies, and institutions to tackle policy and regulatory challenges facing the sector.
The Finance Minister emphasized that the reform process must be practical and bound by clear timelines, with a focus on delivering measurable improvements in sector performance and investment outcomes.
Aurangzeb highlighted the value of private-sector involvement and investment in driving efficiency, fostering competition, and supporting the sector’s overall development, calling for a comprehensive, well-sequenced roadmap with defined timelines and clear accountability.
The Committee also reviewed the role of its Technical Working Group in conducting detailed analysis and formulating targeted proposals for the Steering Committee’s consideration, underscoring the importance of structured consultation with investors and other stakeholders to gather feedback and pinpoint areas needing regulatory improvement.
It was agreed that the Technical Working Group would continue working on identified priority areas and submit focused recommendations to the Steering Committee for review.
The Steering Committee, in turn, will evaluate and approve these proposals, oversee their implementation, and issue policy guidance to relevant ministries and agencies to ensure timely execution.
Also read: Finance Minister calls for diversifying Pak-Canada trade
The meeting was attended by the Federal Minister for Power, the National Coordinator of the National Crisis Management Cell, the Advisor to the Prime Minister on Privatisation, the Minister of State for Finance and Revenue, the Chairman of the National Electric Power Regulatory Authority (NEPRA), and senior officials from relevant government divisions and ministries.
Sohail Majeed is a Special Correspondent at The Diplomatic Insight. He has twelve plus years of experience in journalism & reporting. He covers International Affairs, Diplomacy, UN, Sports, Climate Change, Economy, Technology, and Health.
