Pakistan and the Asian Development Bank (ADB) signed a $200 million loan agreement to strengthen the country’s power distribution infrastructure.
The agreement was signed by the Secretary Economic Affairs Division (EAD), Dr. Kazim Niaz, and ADB Deputy Country Director, Asad Aleem, according to a press release issued by the EAD.
The project will provide support to three distribution companies—Lahore Electric Supply Company (LESCO), Multan Electric Power Company (MEPCO), and Sukkur Electric Power Company (SEPCO)—through the installation of advanced metering infrastructure, data management systems, and an asset performance management system (APMS).
Dr. Kazim Niaz emphasized the importance of timely and efficient utilization of the loan and urged the involved stakeholders, especially the distribution companies, to complete the project within the stipulated timeframe.
He appreciated ADB’s role as a reliable development partner and its consistent support for Pakistan’s power sector, noting that the project aims to modernize the power distribution system and reduce significant energy losses during transmission.
On the occasion, ADB Deputy Country Director Asad Aleem expressed gratitude for the government’s proactive engagement and commitment to the project. He assured that ADB would continue to work closely with the Ministry of Economic Affairs and other stakeholders to align its efforts with Pakistan’s development priorities.
