ISLAMABAD: In the wake of immense power shortage, Asian Development bank (ADB) has granted a loan of $900 m to Pakistan for the generation of Electricity through Jamshoro Power project.
The loan deal was signed today at the Prime Minister’s Secretariat house between Economic Affairs Division Secretary Nargis Sethi and ADB country Director Werner Liepach in the presence of Finance Minister Mohammad Ishaq Dar.
Finance Minister Mohammad Ishaq Dar thanked ADB for vigorous support to address power issue. He assured that Pakistan is committed to muster all its efforts to reduce power shortages.
With the assistance of Jamshoro power generation project two new super-critical coal-fired power generation units will be constructed with a capacity of 600 Mega Watts (MW) each and will be executed by GENCO Holding Company Limited and implemented by Jamshoro Power Company Limited in Sindh.
The power generation units will create jobs in Sindh and help solve energy crisis.
COMMENTS (28)
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Loan of $900: the news did tell anything substantive details e.g. how much of electricity will be added in the national grid, what is project completion date, etc?
@Pakistani: Thank you for saying that Indians do not comment on your good news because it is good for the country. As far as India is concerned, it is moving forward. What has Pakistan to show the world except calliong terrorits "brothers".
Indian trolls. Comments here please. Oh I forgot. This is a positive news about Pakistan. You are still stuck at Indian minister canceling the visit.
@M. Ali: I think the people who should show some shame are those who don't understand how financing and projects work in the modern world. Please try to understand the dynamics of all developing countries and in particular do some reading.
Like Nusrat Javed said... The kashkol is gone. The modern beggar has the account number.
@Ali S:
Sorry to say, youre the illiterate one here. Lots of physics and engineering technical terms (for example, super-conducting super-collider was the name of a planned particle accelerator) are like what youre criticizing. it is because of evolution of technology and the marketing of it.
superciritcal is a technical term for coal fired plants that reach a certain level of efficiency.
http://www.worldcoal.org/coal-the-environment/coal-use-the-environment/improving-efficiencies/
@M. Ali: I hope you are an educated person. If you are, do some research on Debt to GDP ratios of other countries. I know you won't; so I tell you. Germany 81%, Canada 85%, India 69%, Japan 237%, USA 107%, UK 90% France 90%,and PAKISTAN 62%. Pakistan needs to borrow more and build more infrastructure. Problem is no one is willing to give us loan because of the corruption that exists in our government.
@bitter truth: And how do you suggest reducing the circular debt? By changing the energy mix and reducing your dependency on oil. And this is what the government is trying to do by investing in coal based power plants.
@Zain: And i guess u live in a parallel country called Pakistan 2.0 where all the loans taken to invest in development projects are invested actually for that purpose only and not for filling bank accounts of the politicians/thekedars/MNAs and for buying iPhones, iMacs and Mercedes for their family members and visiting Disneyland.
Because if that happens in the Pakistan 2.0 people will actually go to the streets and see the change first hand by not having to dodge khoti reris and gobar on the streets !!!!
Still think your equation of economics is valid?
Ali S. If you dont know what super critical means, heres an idea. Why dont you refrain for commenting needlessly. Alas thats a problem with half of our nation. Super critical is operating at a phase in Rankine cycle where it transforms from liquid to vapour, no tranisition. This has a more power generation capacity.
I just hope this loan actually ends up in developmental work and not in the bank accounts of people involved.
@Ali S: “Two new super-critical coal-fired power generation units…” Really? Why not “super-duper-uber-mega-critical coal-fired power generation units”? It would have been better if you had tried to google super-critical coal fired power generation technology before commenting. Super-critical is a special type of steam power plant in which steam is generated in boiler at pressures higher than the critical pressure of water.
@M.Ali You dont have iota of idea about public projects and their financing. I guess Tabdeeli Razakar!
@M. Ali: "Bowl in the hand begging and ironically felling sense of accomplishment."
How pathetic is the state of your general knowledge that you don't know the difference between credit and begging.Credit is a two way traffic while bowl is always one way.It is because of that ignorance political thugs are making their ways into Pakistani politics and ruining it.Furthermore almost all developed countries are heavily indebted would you call them beggars.
@M. Ali: You obviously don't understand the billions of dollars of damage done to Pakistan's economy by helping defeat the Soviets in the Cold War next door in Afghanistan. Pakistanis a developing country that is now tackling its energy crisis. When will people who simply complain and don't pay tax realise that a solid economy will move the nation forward. I am glad that the new administration is finally tackling the energy crisis in a substantive manner. It will become self sufficient if measures continue the way they are right right now.
It is not a loan rather a sort of investment on a specific project, which is achievement of govt.
@M. Ali: Whats the english for Ghairat?
Poor Man: Brother, can you lend me a few thousand rupees? I'll try to give it back to you at soonest !!! (asking full of shame)
Fill in the blanks:
Govt. Representative: ? (?)
Kashkol broken.... Lolzzz..
I wonder what our representatives feel when signing the loan (bheek) knowing they will pay off only the interest instead of the actual loan - for a long time?
so what is your suggestion for power crisis in the country? @M. Ali:
Sharam tou tum ko nahin aati. Bowl in the hand begging and ironically felling sense of accomplishment. Hope our politicians get familiar with the term 'self sufficiency' some day.