ADB urges govt to secure transaction advisor for DISCOS' future sustainability

April 05, 2024 (MLN): The Asian Development Bank (ADB) has recommended the government to hire a transaction advisor to propose long-term policy initiatives for the sustainable future of Distribution Companies (DISCOS).

Yong Ye, the Country Director of the ADB, alongside other officials held discussions with Minister for Power, Awais Ahmad Khan Leghari.

Minister Leghari shared plans to streamline the Power Division by forming a focused team for effective policy interventions.

Country Director Yong Ye pledged assistance in this endeavor with the help of experts from ABD in the hiring of the dedicated team.

Acknowledging the need for global expertise in reforming the sector, Minister Leghari requested Country Director Yong Ye to identify reputable international firms capable of providing specialized knowledge and support for the said purpose.

Minister Awais Leghari highlighted the challenges posed by hill torrents in some areas of Punjab and emphasized the importance of investment from ADB to combat climate change.

Country Director Yong Ye committed to investing in these areas, emphasizing the significance of both mitigation and adaptation strategies.

Expressing admiration for Pakistan's National Energy Policy, Country Director Yong Ye reiterated full support for its successful implementation.

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