ISLAMABAD: The launch of the smart metering project has brought significant progress towards modernization of the electricity system.

Under the Transaction Advisory Services Agreement between the Power Division and IFC, a plan has been made to install smart meters on about 10 million connections, for which local and foreign investment is expected.

Under the Prime Minister’s vision, the digital transformation of the electricity transmission system is accelerating, smart metering will prevent electricity theft and bring transparency in the billing system.

Smart meters prices have been reduced by 40% through global competitive processes.

The installation of smart meters has been made mandatory for new electricity connections. The end of the rollout of traditional meters is a practical step towards a modern digital system.

It has been decided to convert all the meters of three-phase consumers into smart meters in a phased manner. Commercial and industrial consumers will be included in the digital system.

Effective steps have been taken to resolve the issue of faulty meters and the process has been expedited with the approval of NEPRA, the installation of smart meters is expected to improve recovery and reduce losses.

Reforms in the power sector will increase financial stability and efficiency. The government is committed to ensuring reliable and quality power supply to the public.