ADB to cooperate with Pakistan in energy sector
Pakistan and Asian Development Bank have signed a Letter of Exchange for establishment of “Pakistan National Fund for Disaster Management” and loan agreements for energy sector worth over 799 million dollars.
The Letter of Exchange and Loan Agreements were signed by the Secretary Economic Affairs and Country Director of the Bank in Islamabad on Thursday.
The loan programmes include “Sustainable Energy Sector Reform Programme, “Advance Metering Infrastructure Project and New Customer Information and Billing System in IESCO and LESCO.
The Sustainable Energy Sector Reform Programme is aimed at developing an efficient and consumer oriented power system to meet the need of the people and economy.
On this occasion, Finance Minister Ishaq Dar reiterated the government's resolve to mobilize essential resources for efficient operationalization of the Disaster Fund.
The ADB Country Director appreciated the government's efforts to deal with natural and man-made calamities and address energy crisis in the country.