$200M Loan from ADB to Upgrade Pakistan’s Power Supply
The ADB has lent Pakistan $200 million to improve its power distribution infrastructure. Dr. Kazim Niaz, Secretary of Economic Affairs Division (EAD) and Asad Aleem, ADB’s Deputy Country Director signed the agreement on Tuesday.
Modernizing Power Distribution Systems
The loan aims to upgrade power distribution systems in three major companies:
Advanced metering infrastructure, data management tools and asset performance management systems (APMS) will benefit these companies. The main aspect of the project is to modernize obsolete systems and increase energy efficiency.
Timely Implementation focus
Dr Kazim Niaz stressed the need to use the loan wisely. He urged all the stakeholders, especially the power distribution companies (DISCOs) to conclude the project in the expected time.
Adb also is a reliable development partner, he said. The project, he said, is aimed at minimizing the loss of power and delivering it to consumers in an affordable and reliable manner across the country.
ADB’s Commitment to Pakistan
Pakistan’s commitment to energy reforms was acknowledged by Asad Aleem. And he promised to continue working with the Ministry of Economic Affairs and other stakeholders. ADB efforts, Aleem reaffirmed, are in line with Pakistan’s long term development goals.
Key Benefits of the Project
Final Thoughts
This is another step on which Pakistan is becoming modern and reliable energy sector. ADB is supporting Pakistan to improve its infrastructure, strengthen service delivery and boost economic growth.
