ISLAMABAD - Prime Minister Nawaz Sharif has said that the government is committed to address the challenges in energy sector.

He apprised the Asian Development Bank delegation, which called on him here on Tuesday, that economic indicators this year showed marked improvement as compared to the previous year.

Talking to the Asian Development Bank delegation headed by its Vice President Wencai Zhang, PM said, “We are moving ahead in the energy sector and further stated that we are establishing energy parks in Gadani which will produce 6600 MW.” The delegation comprised Wencai Zhang, Vice President, Klaus Gerhaeusser, Hao Zhang, Advisor to the Vice President ADB, Werner E Liepach, Country Director, and Saad Paracha, Senior Programs Officer. Federal Finance Minister Ishaq Dar was also present on the occasion.

Premier further informed the delegation that government was planning to build Diamer-Bhasha and Bunji dams.

The support of ADB is essential in implementing true reform agenda, he added. During the meeting, Prime Minister underscored the high value Pakistan places on its partnership and continued support from the development partners. Prime Minister thanked the ADB for committing to policy lending to the tune of $1 billion for energy sector and state owned enterprises (SOEs) reforms. He appreciated ADB support for Jamshoro Power Generation Project and stated that this project is important in view of the current energy crisis and dire need for higher efficiency and alternative sources in power generation. ADB Vice President congratulated the PM on his third time election as the Prime Minister of Pakistan and said that we are witnessing successful economic reforms initiatives under your leadership and said that you are remarkably dealing with the fiscal deficit and reforming state owned enterprises.

We are sure that Pakistan under your leadership will enjoy high growth rate in coming years if there is continuity in implementation of reform agenda, he added. ADB is willing to help Pakistan, he further said. ADB delegation informed that tomorrow is a very important occasion as ADB and Government of Pakistan are signing a $900 million agreement of Jamshoro power generation project.  Vice President of ADB assured that they will support the present government’s great efforts in energy sector reforms and appreciated the policy of federal government, which is focused on regional and international integration and cooperation.