Pakistan, Jan. 16 -- The World Bank has urged Pakistan to adopt concrete and results-focused power sector reforms before seeking multibillion-dollar financing over the medium to long term. Officials said the lender wants clear actions to reduce losses, improve efficiency, and stabilise a sector that continues to drain public finances heavily.

Sources revealed that Pakistan approached the World Bank to refinance power sector debt by replacing expensive local and commercial loans with cheaper multilateral financing options. At the same time, the government plans to raise the incremental electricity package for industries from twenty five to fifty percent.

This proposed relief aims to revive industrial demand, which fell sharply last fisca...