To account for the consequences of uncertainty in the Distribution Static Compensator (DSTATCOM) allocation and sizing issue, this study provides a novel stochastic framework based on the probabilistic load flow. To capture the uncertainty associated with the prediction inaccuracy of the loads, the suggested technique is based on the point estimate method (PEM). In addition, a novel optimization technique inspired by the bat algorithm (BA) is developed for conducting global searches. Minimizing overall active power losses and minimizing bus voltage variation are the objective functions to be studied. The concept of inter-active fuzzy satisfying approach is used in the multi-objective formulation to achieve an appropriate balance between the optimization of both the objective functions. The IEEE 69-bus distribution system is used to evaluate the practicability and satisfactory performance of the suggested technique.