On Tuesday, the Pakistani government signed a $200 million loan agreement with the Asian Development Bank (ADB) aimed at enhancing the country’s power sector. The agreement marks another step in Pakistan’s efforts to improve energy distribution and infrastructure.
The deal was signed by the Ministry of Economic Affairs Secretary on behalf of Pakistan, and the Deputy Country Director represented the ADB. According to the Ministry’s spokesperson, the ADB will provide $200 million as part of the agreement, which is intended to uplift the power sector.
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The funds will specifically benefit three major power distribution companies—Lahore Electric Supply Company (LESCO), Multan Electric Power Company (MEPCO), and Sukkur Electric Power Company (SEPCO). These companies are expected to see significant improvements in their infrastructure and operational efficiency as a result of the loan.
The spokesperson from the Ministry of Economic Affairs stated, “With this agreement, LESCO, MEPCO, and SEPCO will benefit from the allocated amount,” further highlighting the government’s focus on enhancing power distribution to meet the growing energy demands of the country.
