Pakistan launches Rs1bn power sector innovation program and digital economy initiatives

Pakistan has launched the National Power Sector Innovation Programme, a three-year initiative with an allocation of over Rs1 billion to support research and technological solutions in the energy sector. The program includes the establishment of a digital Innovation Hub designed to connect students, researchers, startups, and industry experts to address electricity supply and grid resilience challenges. Individual young innovators may receive up to Rs500,000 for prototype development, while larger research efforts will receive competitive funding to convert academic findings into practical tools.

In a separate move to strengthen the digital economy, the government is exploring frameworks for digital ownership of real estate and other assets. Finance Minister Muhammad Aurangzeb and Pakistan Digital Authority Chairperson Dr. Sohail Munir held discussions regarding the use of emerging technologies and digital platforms to make capital markets more accessible. Proposed measures include simplifying digital account-opening procedures and improving data-sharing arrangements between government institutions to enhance policymaking and coordination.