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7 April 2004 - The World Bank Pakistan Mission offered financial support for the nation's power sector during a meeting with the Federal Minister for Water and Power. World Bank (WB) country chief Mr. John Walls and Principle Operational Advisor Abid Hassan called on the Federal Minister for Water and Power, Aftab Ahmed Khan Sherpao.
During the meeting the action plan to improve the power sector in the country was discussed at length. Short to medium term strategy for removing inefficiencies, reduction of costs, rationalisation of tariff and to expedite, encourage and sustain the private sector participation in generation, transmission and distribution were reviewed.
The minister informed the WB delegation about the institutional arrangement for restructuring of generation, distribution and transmission system in the country.
He apprised the delegation that Ministry of Water and Power would set up a policy and implementation cell in the ministry to oversee the reform process and formulate policy on electricity access in the country.
The minister has also informed the delegation that a mechanism would be evolved to provide subsidy to the weaker DISCOS in a transparent manner.
The delegation was informed that an investment of about Rs. 250 billion ($4.3bn) would be required in next five years for sector participation and donor support would be essential to meet investment requirements.
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