ADB to provide $1.5b to Pakistan
Finance Minister appreciates the role of Asian Development Bank.
The Asian Development Bank will provide 1.5 billion dollars to Pakistan next year under Public-Private Partnership.
This was stated by Country Director of the Bank, Werner Leipach at a meeting with Finance Minister Mohammad Ishaq Dar in Islamabad today.
He apprised the Minister that ADB’s total co-financing for Pakistan stood around 1050 million dollars.
He said ADB has also provided trade finance support for the private sector investments to the tune of 95 million dollars.
The Finance Minister appreciated the role of Asian Development Bank for financing development projects in Pakistan.
He said that the government is focused on growth and employment generation and finance provided by the ADB and other multilateral institutions would help in achieving these objectives.
Khawaja Asif inaugurates TP-1000 project
Single and double transmission lines will also be upgraded to reduce line losses.
Minister of Water and Power, Khawaja Muhammad Asif inaugurated TP-1000 project of K-Electric in Karachi on Monday.
Under the project, eight new grid stations of 132-KV and 220-KV will be completed and performance of 21 existing grid stations will be enhanced.
Single and double transmission lines will also be upgraded to reduce line losses and add 1000 MV in national grid.
Addressing the ceremony, the Minister stressed the need to change behavior for energy conservation and efficient utilization of natural resources.
He said a new agreement is being discussed with K-Electric to facilitate the people.
The Minister for Water and Power also
inaugurated the 52.8 MW Sapphire Wind Power Project in Jhimpir Thatta on Monday.
Speaking on the occasion, he said Pakistan’s southern corridor provides great opportunities for wind energy projects.
The Minister said the government has come up with investor friendly policies and this sector provides vast opportunities for investment.