Pakistan to use $800 million from ADB for power supply and reforms
Tariq Bajwa, Secretary Economic Affairs Division, and Werner E. Liepach, ADB’s Country Director for Pakistan signed an agreement for a $400 million loan for tranche 1 of the Multitranche Second Power Distribution Enhancement Investment Program.
This will allow Pakistan to introduce for the first time, an Advanced Metering Infrastructure (AMI) system for power distribution companies across the country to improve load management and strengthen the financial viability of the sector by reducing electricity losses and increasing revenue collection.
The two sides also signed an agreement for a $400 million loan for the second sub-program of the Sustainable Energy Sector Reform Program.
The investment is directed towards supporting ongoing policy reforms to build an affordable, efficient and secure energy sector. Senator Muhammad Ishaq Dar, Pakistan’s Finance Minister witnessed the signing. ■