ISLAMABAD: The Ministry of Economic Affairs and the Asian Development Bank (ADB) signed a $200 million loan agreement on Tuesday to upgrade Pakistan’s power distribution infrastructure.
The signing ceremony took place at the Ministry of Economic Affairs, with Secretary Dr. Kazim Niaz representing Pakistan and Deputy Country Director Asad Aleem signing on behalf of the ADB.
The project focuses on enhancing the capacity of three key distribution companies: Lahore Electric Supply Company (LESCO), Multan Electric Power Company (MEPCO), and Sukkur Electric Power Company (SEPCO). It will introduce advanced metering infrastructure, data management systems, and performance management systems to reduce energy losses and improve efficiency.
Dr. Niaz underscored the importance of utilizing ADB loans effectively and urged DISCOs to ensure timely project completion. He lauded ADB as a steadfast development partner supporting Pakistan’s energy sector.
Asad Aleem expressed gratitude for the government’s proactive collaboration, assuring ADB’s commitment to aligning the project with Pakistan’s development priorities. This initiative is expected to significantly modernize the nation’s power distribution network while addressing substantial energy losses.
