Govt, ADB sign $200m loan for power sector

Pakistan and the Asian Development Bank (ADB) on Tuesday signed an agreement to provide $200 million support to the country’s ailing power distribution system through network improvement. The ADB board of directors approved the loan on Dec 10 to initially support three power distribution companies of Lahore, Multan and Sukkur — Lesco, Mepco and Sepco — through advanced metering infrastructure, data management systems, and asset performance management system (APMS). The loan agreement was signed by the secretary of the Economic Affairs Division, Dr Kazim Niaz, and ADB’s Country Director Asad Aleem on behalf of their sides. Speaking on the occasion, Mr Niaz called for timely and efficient utilisation of ADB’s loan and urged all concerned, particularly power distribution companies (Discos), to ensure timely completion of the project to modernise the power distribution infrastructure in the country and improve the ability of Lesco, Mepco and Sepco to deliver reliable electricity.