For years, Pakistan’s power sector has been synonymous with circular debt, opaque deals, and consumer frustration. It functioned as a significant drain on the national exchequer, with losses and inefficiencies ultimately burdening the common citizen through higher tariffs and an unreliable supply. The year 2025, however, may be remembered as a turning point—a year when a series of deliberate, structured reforms began to dismantle the old system and build a new foundation based on three pillars: Transparency, Merit, and Financial Sustainability.

The results, as evidenced by the Power Division’s own reporting, are not merely theoretical but strikingly tangible. A massive financial turnaround has been achieved, with PKR 191 billion reduced in losses and a staggering PKR 780 billion shaved off the circular debt without resorting to new borrowing. These are not just numbers on a balance sheet; they represent billions freed from a black hole, money that can now be redirected toward public........

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