By Ayesha Saba ISLAMABAD, March 28 (INP-WealthPK): The existing grid scenario in Pakistan is flawed in numerous ways, needing the upgradation of the conventional grid to address chronic problems like load-shedding, power theft, limited electrification, transmission, and distribution losses. The current era necessitates the use of innovative technologies to mitigate the intermittencies connected with renewable energy sources. Smart grid technologies are much needed to meet the country's ever-increasing energy demand. Smart grid technology is the modification of an electrical power system from which the whole grid transforms into a digital setup with advanced automation, control, information technology, and operational technology systems that enable real-time monitoring and control of power flow from the sources of generation to the sources of consumption. The power transfer is smart, efficient and eco-friendly from generation to consumption; the whole system works through a definite electronic statute by using a group of generating sources, transferring electricity through the distribution units which communicate over the wireless scheme. Talking to WealthPK, senior official spokesperson for the National Transmission & Despatch Company (NTDC) said, “Smart grid implementation in Pakistan is not a one-time project but needs extensive planning. An implementation plan for 2030 is proposed, which is divided into two stages of development. The first stage of development has a two-year plan. It is necessary to complete activities related to stage 1 as well as an additional task for stage 2 in order to complete development stage 2. Working on this technology has been under process since 2017 and is still in the early stages of development”. “Smart grid itself does not necessarily reduce T&D (transmission and distribution) losses but it helps in identification of fault locations. It is capable of communicating the factors that are contributing to losses and accordingly, the utilities can take appropriate actions that further reduce T&D losses.” “Over the last five years, however, distribution losses have consistently decreased because of collaborative efforts of the National Transmission and Dispatch Company (NTDC) and distribution companies,” he told WealthPK. To reduce these losses, the Government of Pakistan has introduced smart energy meters at the domestic level in some cities with the collaboration of the United States Agency for International Development (USAID). In Pakistan, the USAID recently installed more smart meters in the areas of different power distribution companies. Around 26,000 old electricity meters have been replaced by different power distribution companies. Currently, 26,000 smart meters are being installed in Pakistan. The global smart grid network market is expected to grow at a CAGR of more than 11% during the forecast period of 2022-2027. The governments of both emerging and underdeveloped nations worldwide are increasingly viewing smart grid technology as a strategic infrastructural investment that will sustain their long-term economic prosperity and help them achieve their carbon emission reduction targets. This, in turn, is expected to provide ample opportunities to the companies involved in the smart grid network market in the near future. Pakistan's growing population poses a threat to the current grid, as the transmission infrastructure has not been modernized to meet the country's electricity needs. As a result, moving to a smart grid is a realistic choice for Pakistan, as it encourages the increased use of renewable energy sources in the power generating mix.