Federal Minister for Energy Sardar Owais Ahmed Khan Leghari met with high-level delegations of the World Bank and the Islamic Development Bank (IsDB) on Monday.

The World Bank delegation was led by Ousmane Dione, and the Islamic Development Bank delegation was led by Dr Rami Ahmed.

While briefing the delegations on the ongoing reforms in the power sector, the Federal Minister said that sustainable and effective reforms in the energy sector are the top priority of the government and partnership with international financial institutions is indispensable to addressing energy challenges.

The withdrawal of expensive power projects from the Indicative Generation Capacity Expansion Plan (IGCEP) has provided potential relief of $17 billion to consumers.

The reduction in circular debt by Rs 780 billion is the result of the government’s reform policy.

The five-year national power plan is a strong foundation for energy security.