Business
Services agreement linked between power division and IFC – SUCH TV
The Ministry of Energy (Power Division) has signed a Transaction Advisory Services Agreement (TASA) with the International Finance Corporation (IFC), a member of the World Bank Group.
Under this accord, the IFC will act as transaction advisor and conduct a comprehensive techno-commercial assessment for a service-provider model or public-private partnership framework to support the large-scale rollout of smart metering infrastructure for 10 million single-phase connections.
This initiative is intended to attract local and international investors to install, maintain, and operate the infrastructure, thereby advancing Pakistan’s digital transformation in the power sector.
Under the visionary leadership of Prime Minister Shehbaz Sharif, the Ministry has accelerated the digitization reform of the national power distribution network.
The reform seeks to replace legacy systems with modern infrastructure, thereby enhancing transparency, operational efficiency, and long-term financial viability.
Advanced Smart Metering Infrastructure (AMI) forms the cornerstone of this transformation. Smart meters provide real-time visibility of energy consumption, reduce theft through anomaly detection, improve billing accuracy and recovery rates, and eliminate manual errors by minimizing human intervention.
Through an international competitive bidding process, the Ministry has reduced the price of both single-phase and three-phase smart meters by 40 percent, delivering substantial savings to the national exchequer and, ultimately, to consumers.
All distribution companies have been directed to install smart meters for every new electricity connection, with no traditional meters to be issued to new applicants.
In addition, all existing three-phase consumer meters must be converted to smart meters by a defined deadline, ensuring that commercial and industrial consumers are fully integrated into the digital system within the specified timeframe.
Malaysia-based Karex produces more than five billion condoms a year and supplies global brands like Durex and Trojan.
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Tesco Pet Insurance, who provided the cover, says “the cost of claims is one of a number of factors that can affect the price of a policy at renewal” and also noted Tilly’s age had been reflected in the quote. It says the couple had a more comprehensive policy, which typically costs more than basic levels of cover, and that alternative options were presented to Fawcett and Neild.
The UK must not “cut ourselves off” from trade opportunities in China despite security and business risks, the head of the Confederation for British Industry has warned.
CBI chief Rain Newton-Smith highlighted that British businesses see increased trade with Chinese firms as an opportunity to drive growth.
Her remarks came as business leaders were questioned by MPs on Parliament’s Business and Trade Select Committee regarding the UK’s economic relationship with China.
Last December, Prime Minister Sir Keir Starmer admitted China poses security threats to the UK but urged for greater business ties.
Ms Newton-Smith, chief executive of one of the UK’s largest business groups, was positive about the Government’s engagement with China.
“You can’t have a growth strategy without a strategy for China,” she said.
“China has the biggest contribution to global growth, is the third largest trading partner, and the world’s largest consumer market.
“The UK is second largest exporter of trade and services.
“We are mindful as all businesses are of security risks but it is really important that we have a strategy towards China.
“This Government has increased the economic engagement with China and including business within this does help us as a country.”
She added: “If we think about the future economy, there is a huge market in China and I think we mustn’t cut ourselves off from some of the opportunities there, even if in some areas there are difficult conversations and negotiations that need to be had.”
Peter Burnett, chief executive of the China-Britain Business Council, told the committee: “There are risks associated with technology advancement, AI, industrial development that they need to assess.
“Increasingly you will find them saying that they need to engage more in China to understand those risks and to develop some of the technologies along some of those risks themselves.”
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