Federal Minister for Energy Awais Leghari and Spanish Ambassador to Pakistan Carlos Aragon discussed energy sector reforms, investment opportunities, and potential cooperation to modernise Pakistan's power infrastructure during a meeting in Islamabad.
The two sides held detailed discussions on ongoing reforms in Pakistan's energy sector, with a focus on electricity market liberalisation, transmission upgrades, grid digitisation and investment prospects.
During the meeting, Ambassador Aragon appreciated Pakistan's constructive role in promoting peace and stability in the Middle East and expressed interest in expanding bilateral cooperation in the energy sector.
Leghari said the government was pursuing major reforms to create a competitive electricity market rather than relying solely on additional power purchases.
"We are moving towards a competitive electricity market where businesses will be able to procure electricity through direct transactions," the minister said.
He said the government had launched the privatisation process for three electricity distribution companies in the first phase and planned to gradually include other distribution companies.
Leghari said Pakistan offered significant investment opportunities in power transmission, grid modernisation and battery energy storage systems.
He added that around 16 million electricity meters across the country were being converted to digital systems in phases, describing the initiative as a major opportunity for both local and foreign investors.
"The digital transformation of electricity metering presents a strong investment opportunity for international and domestic companies," he said.
The minister also announced that a special research, development and innovation programme would soon be launched under the Power Planning and Monitoring Company. Under the initiative, young professionals and experts would be encouraged to submit innovative proposals, with special awards planned for outstanding ideas.
Ambassador Aragon said Spanish companies possessed extensive global experience in defence technologies, digital systems and infrastructure development.
He said the expertise of Spanish firms could contribute to the modernisation of Pakistan's transmission network and advanced metering systems.
Leghari welcomed the interest shown by Spanish companies and said the ministry's technical institutions would undertake a detailed review of their capabilities and potential areas of collaboration.
The meeting concluded with both sides agreeing to further strengthen cooperation in the energy sector and remain in close contact regarding infrastructure development, technology transfer and potential investment opportunities.