Pakistan to Receive $9000mn from ADB for Coal Power Project

One of Pakistan’s biggest issues includes electricity and power. The country is falling short in terms of electricity units they need in order to fulfil the demands of the overall population in the country. This is the reason why there are power cuts throughout the year.

However, the current government, led by Nawaz Sharif, is trying its best to eradicate these problems. This is the reason why they have signed certain deals with other countries and the most recent project which was accepted was the Jamshoro Coal Power Project.

Since it is a huge investment, Pakistan is going to require a lot of funds. This is why the Asian Development Bank is about to give Pakistan a loan of $900mb so they can work on this project and help themselves get rid of the energy crises that currently exist in the country.

The agreement was signed on Wednesday and the project is expected to get completed within four years.

Ishaq Dar was also a part of the overall project and he has claimed that the government is trying to take strong measures in order to get rid of the power crises once and for all.

The agreement states that the 660megawatt unit is going to create electricity through imported coal

Short URL: https://www.newspakistan.pk/?p=42764

Posted by Ahmad Mehdi on Feb 12 2014. Filed under Latest News, Pakistan, Politics. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.