ISLAMABAD: Turkiye’s Minister of Energy and Natural Resources, Alparslan Bayraktar, said on Tuesday that Turkish investors are closely monitoring Pakistan’s power sector privatisation process and are expected to participate actively in the process.
The Turkish minister expressed these views during a meeting with Pakistan’s Minister for Power, Sardar Awais Ahmed Khan Leghari in Islamabad, an official statement said.
Agreeing to hold roadshows in Turkiye, the Turkish Minister also offered to utilise the Turkish Investment Forum for this purpose, assuring full cooperation.
He stated that the Pakistani power market is very important, as Turkiye is already a major investor in various sectors in Pakistan, including mining, which is closely linked to the power sector.
The Minister for Power lauded the Government of Turkiye for providing Pakistan’s power sector experts the opportunity to study Turkiye’s largely private-sector-driven energy model.
He announced that Pakistan will soon put its first three Power Distribution Companies (DISCOs) up for privatisation, with an Expression of Interest (EOI) for investors ready to be issued.
Appreciating Turkiye’s model, Sardar Awais Leghari called for closer collaboration between officials and institutions of both countries throughout the privatization process, highlighting the success of Turkiye’s concessional model.
He also emphasised the importance of Turkish support in training human resources from Pakistan’s power sector institutions.
The Minister further briefed his Turkish counterpart on ongoing reforms and the investment potential within Pakistan’s power sector entities.
The visit comes as Pakistan intensifies efforts to attract foreign investment into its oil, gas, and mining sectors, aiming to address severe energy shortages, reduce dependence on imported fuels, and develop its underexplored reserves.
Meanwhile, Turkiye has been steadily expanding its commercial and strategic presence in South Asia and already has several energy companies operating in Pakistan.
The Turkish minister’s visit comes after his remarks last week that Turkiye is preparing to formalise a new energy agreement with Pakistan, encompassing both offshore and onshore exploration.
Last month, Pakistan approved a new offshore exploration consortium, granting Turkish Petroleum Overseas Company (TPOC) the operatorship of the Eastern Offshore Block-C as part of efforts to revive drilling activities.
The Economic Coordination Committee (ECC) cleared Pakistan Petroleum Limited’s (PPL) request to transfer a portion of its stake in the block to TPOC, Mari Energies, and the state-owned Oil & Gas Development Company Ltd., leaving PPL with a 35 percent share.
