Energy reforms: ADB, Pakistan ink $300m agreement

Programme envisages improving reliability, affordability and sustainability of energy sector

ISLAMABAD: The Asian Development Bank (ADB) and Pakistan signed on Friday the formal agreement that would see the Manila-based lending agency provide $300 million for financing the Sustainable Energy Sector Reforms Program.



The programme envisages supporting Pakistan in improving reliability, affordability and sustainability of the energy sector to support economic growth.

The ADB, which approved the loan on Thursday, was represented by Country Director Xiaohang Yang who signed the agreement with Secretary Economic Affairs Division Tariq Pasha. Finance Minister Ishaq Dar also attended the signing ceremony.

The programme will back reforms to reduce power losses, encourage involvement of the private sector in the power sector, and improve transparency and accountability.

“Our focus is an actionable and credible program that can be supported over the medium term by ADB,” Dar said, adding that ADB is appreciative of the achievements Pakistan has made so far in overcoming the energy crisis.



Dar assured that there would be no load-shedding after November.

Xiaohang also highlighted the importance of the programme for Pakistan’s quest to overcome its energy crisis.

Published in The Express Tribune, June 17^th, 2017.

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