1Pakistan signed agreement with ADB to solve its biggest problem
The problem of electricity load shedding in Pakistan is the past thing as a government is working regularly on a development of power sources. The new agreement was signed between Pakistan and Asian Development Bank where Pakistan will receive $300M for the electricity sector reforms program.
The agreement where Pakistan able to receive the money from the bank was signed between the finance minister Ishaq and ADB’s Director Xiohang Yang in Islamabad. The agreement will be the next step development of electricity as the Asian Development Bank is providing the money loan to Pakistan in improving reliability and affordability to support the economic growth of the country.
The power sources of the country play an important role in the development of the region as they are the overhead of the government in many cases but if a government is able to provide these sources on time to the population then problems never occur.
Pakistan is the underdeveloped country and requires plenty of work to compete with the other regions of the world as the Finance Minister added worthy words after the agreement stated as
‘the economy of Pakistan is rapidly growing and we are going towards the goal’.
He added that Pakistan has close relations with the Asian Development Bank, this is the reason they always support the country in several projects and he added that this agreement was occurred to focus on the economic growth of the region and especially provide electrical sources to a population.
The Minister also tells that ADB was inspired with the progress of Pakistan as they face different challenges of the energy sector and maintain the economic growth of the region.
The Minister added that load shedding becomes the past thing in future as this agreement will help the people of Pakistan to utilize the electric sources easily and efficiently and made electricity affordable for the country people.
The ADB made a new agreement with the Pakistan due to a progress of Pakistan as IT industry is growing rapidly but requires the power and this agreement will able to fulfill the needs of all departments.
