ADB approves $250m for power transmission network

Business Nov, 17 2023
ADB approves $250m for power transmission network
  • 83
  • 0

Karachi: Asian Development Bank (ADB) has approved $ 250 million in loans to improve and expand power transmission network in Punjab and Khyber Pakhtunkhwa provinces, read a statement released.

ADB said that its Power Transmission Strengthening Project will help reinforce stability of national grid by increasing its transmission capacity. As per multilateral institution, project will expand high-voltage transmission network to close 500 kilovolt (kV) and 220 kV transmission lines loops and reduce transmission losses in Punjab's Lahore city by replacing old transmission lines.

"Reliable power supply is essential to inclusive, sustainable economic growth and it will also provide economic opportunities to rural communities," said ADB Director General for Central and West Asia Yevgeniy Zhukov.

"We are pleased to continue supporting Pakistan in its efforts to achieve energy security while improving energy efficiency." ADB said that project will complement its ongoing support to National Transmission and Despatch Company Limited aimed at ensuring energy security, climate resilience and increased transmission capacity to deploy sufficient, reliable, clean and cost-effective energy. "Improving management of national transmission system of Pakistan is another key objective," it said.

Bank said that project will also enhance project and financial management of NTDC, as well as its capacity to incorporate climate resilience in planning and operations.

Project will focus on Thatta, Sujawal and Badin districts. Conditions in these districts have been degraded by confluence of environmental factors, resulting in land subsidence, flooding, erosion and saline intrusion, ADB said.

NC Big Stories

Israel’s barbarism unstoppable, Palestinians in ‘dire straits’

GAZA: Israeli forces stormed the main city in the southern Gaza Strip yesterday and hospitals struggled to cope with scores of Palestinian dead and wounded. In what appeared t...

JUI-F chief Fazl questions feasibility of holding elections

ISLAMABAD: With national elections looming just two months away, Maulana Fazlur Rehman, the chief of Jamiat Ulema-e-Islam-Fazl (JUI-F), expressed apprehensions yesterday about...

Nepra nods over Rs3 per unit hike in power tariff

ISLAMABAD: The National Electric Power Regulatory Authority yesterday approved a Rs3.07 per unit increase in electricity prices, applicable to all power distribution companies...

Hannah Husain becomes first Pakistani to debut at Le Bal des Débutantes

Being held in Paris, Le Bal des Débutantes  also known simply as ‘le Bal’ is a debutante ball and fashion event held annually in November in France&rsq...

More like this
Related

PM foresees CPEC progress, detractors’ relevance fading

WADAR: Caretaker Prime Minister Anwaar-ul-Haq Kakar on Monday urged the people of Balochistan, particularly, the youth to avail the historic opportunity of development in thei...

KSE-100 index hits 61,000 mark

The KSE-100 Index surged to a fresh high of 61,555.83 in early Wednesday trading, marking another record-breaking milestone following the recent breakthrough of the 60,000 mar...

PSDP 2023-24: Govt releases Rs300.91bn funds in 4QFY24

ISLAMABAD: Government authorised utilisation of development funds amounting to Rs 300.904 billion, out of total allocation of Rs 950 billion, for various ongoing and new socia...

Afghan border trade resumes after Pakistan suspends new visa rule

PESHAWAR: Cross-border trade between Pakistan and Afghanistan was back to normal, officials in both countries said after Islamabad suspended new visa rule. Commercial traffic...
Need Help? Chat with us