A $200 million loan agreement has been signed between Pakistan and the Asian Development Bank (ADB) for the Power Distribution Strengthening Project. The agreement was signed between the Secretary Economic Affairs Division, Dr. Kazim Niaz, and ADB Deputy Country Director, Asad Aleem.
The initial batch of three distribution businesses included in the scheme is Lahore Electric Supply Company (LESCO), Multan Electric Power Company (MEPCO), and Sukkur Electric Power Company (SEPCO). Their facilities will receive advanced metering infrastructure; data management systems; and an asset performance management system (APMS).
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Through the signing process, Secretary Dr. Kazim Niaz elaborated on the need for early and judicious use of the funds availed through ADB. He requested every stakeholder involved, especially DISCOs, to conclude the project in the specified timeframe. He also thanked ADB for being a true and trustworthy development partner who is irrefutably active in Pakistan’s power sector. This project aims to improve and modernize the power distribution system by reducing gross energy losses in the distribution process.
Asad Aleem expressed appreciation for the sensible engagement and support from the government of Pakistan. He assured that ADB would continue to work closely with the Ministry of Economic Affairs and other stakeholders to ensure its support aligns with Pakistan’s development priorities.