ADB to invest $810m on power projects

Asian Development Bank (ADB) intends providing $810 million loan to Pakistan by September for power projects.A government official told a foreign news agency that talks were underway with the electricity distribution companies relating to availing of this loan facility spread over 10 years and ADB would finally give its approval to the agreement in August. Soon after approval of the agreement, the disbursement of the amount was expected to begin from September or October.The transmission systems of the power distribution companies would be upgraded with the help of this loan amount, as the existing outlived systems all over the country were causing high line losses and substantial power wastage. The agreement could also help stabilize the rupee value, which is under severe pressure due to onrush of dollar purchases.

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