Pakistan, ADB ink two agreements
The agreements are relating to reforms in energy sector, creation of disaster fund.
Pakistan and Asian Development Bank (ADB) have signed two agreements worth 800 million dollars for reforms in the energy sector and creation of a disaster fund in Islamabad on Thursday.
Speaking on the occasion, Finance Minister said reforms will be carried out in the energy sector and modern infrastructure will be installed in areas which fall under LESCO and IESCO to check power theft.
He said that the program will be expanded to other power distribution companies later on.
Finance Minister said Pakistan National Disaster Fund will also be set up on the permanent basis to tackle natural calamities in the country.
He said that ADB has provided 400 million dollars for the fund while Norway, Belgium, Australia, and European Union have indicated to join it.
Ishaq Dar said the Pakistan government will be partner in the fund.