In an effort to promote competition and lessen the government’s position as the exclusive buyer of electricity, the Cabinet Committee on Energy approved the establishment of an autonomous competitive market for electricity generation and purchase on Wednesday.
Prime Minister Shehbaz Sharif presided over a meeting when the committee approved the establishment of an Independent System and Market Operator (ISMO).
According to a press statement from the Prime Minister’s Office, this proposal would be submitted to the federal cabinet for approval before being registered with the Securities and Exchange Commission of Pakistan in accordance with the Companies Act of 2017.
With the help of the ISMO, consumers will be able to purchase electricity from providers other than established distribution firms, transforming the electrical market into one that is transparent and competitive.
