Islamabad, Jan 1: Pakistan and the Asian Development Bank (ADB) have signed a $200 million loan agreement aimed at upgrading the country’s power distribution system. The agreement was finalized between Secretary Economic Affairs Division (EAD), Dr. Kazim Niaz, and ADB Deputy Country Director, Asad Aleem, according to an EAD press release.
Project Highlights:
- Targeted Distribution Companies: Lahore Electric Supply Company (LESCO), Multan Electric Power Company (MEPCO), and Sukkur Electric Power Company (SEPCO).
- Technological Advancements: Includes advanced metering infrastructure, data management systems, and an Asset Performance Management System (APMS).
- Objective: To minimize energy losses and modernize the power distribution network.
Key Remarks:
- Dr. Kazim Niaz: Highlighted the importance of timely utilization and urged DISCOs to ensure project completion within the stipulated timeframe.
- Asad Aleem: Reaffirmed ADB’s commitment to supporting Pakistan’s development priorities, emphasizing proactive collaboration with the Ministry of Economic Affairs.
This project is a significant step toward addressing Pakistan’s energy distribution challenges.
