Prime Minister Shehbaz Sharif said on Thursday that reforming the power sector is the government's top priority, with a strong focus on reducing circular debt and ensuring long-term sustainability.
Chairing a high-level meeting to review the supply and consumption of gas across the country, PM Shehbaz was presented with a comprehensive long-term plan for the gas sector. He emphasised that further reforms in the energy sector, particularly in gas, would gradually reduce and ultimately eliminate circular debt.
The prime minister expressed satisfaction over the establishment of various exploration blocks aimed at increasing local gas production and discovering new reserves.
During the briefing, he was also informed about the financial stabilisation of the gas sector, long-term strategic planning, and improvements in the governance system.
– Discussions held on development partnership and economic stability in Pakistan –
Separately, a delegation from the World Bank, led by Managing Director of Operations Anna Bjerde, met PM Shehbaz in Islamabad. The meeting focused on Pakistan’s development partnership with the World Bank and efforts to ensure economic stability.
The prime minister welcomed the delegation to Pakistan and appreciated the World Bank’s role in supporting development initiatives. He acknowledged the World Bank’s practical demonstration of partnership during the devastating floods of 2022, when it provided vital assistance to affected communities.
Anna Bjerde thanked the Government of Pakistan for its warm hospitality and praised the country’s recent economic performance. She noted that Pakistan had taken difficult yet essential decisions to achieve stability.
The premier had affirmed his government's commitment to implementing concrete measures to ensure that the benefits of the World Bank’s development investments reach the people.
The World Bank MD also held a separate meeting with Federal Minister for Economic Affairs Ahsan Cheema. Discussions covered ongoing projects under the Bank’s cooperation and the Country Partnership Framework. Minister Cheema highlighted that the success of the IMF programme and the recent upgrade in Fitch ratings were key economic milestones.
Anna Bjerde commended the government’s efforts in successfully implementing the IMF programme.
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