World Bank to provide $3b for infrastructure

The World Bank will provide more than $3 billion for infrastructure development in the energy sector and it will give further assistance for the construction of Dasu hydropower project.

It was stated in a meeting between Federal Minister for Energy Khurram Dastgir and a high-leveI delegation of the World Bank.

The energy minister stressed that the decision to increase electricity prices was politically difficult but the government was committed to ensuring the sustainability of energy sector.

“The government has taken tough and difficult decisions in the power sector,” he said.

He appreciated the World Bank for recognising the challenges being faced by Pakistan and the difficult decisions taken by the country.

The minister pointed out that climate change had made a devastating impact on Pakistan’s economy, including the energy sector. The World Bank is providing assistance for an energy efficiency and conservation programme apart from helping provinces in installing solar power plants.

The delegation was briefed on the Central Asia-South Asia (CASA) electricity transmission and Dasu dam and power production projects.

Published in The Express Tribune, November 8^th, 2022.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.