ADB to invest around $1b in power transmission lines in next two years

ADB will carry out pre-feasibility study for conversion of carbon intensive power plants to less
carbon intensive ones

 

 

ISLAMABAD   –   Asian Development Bank (ADB) will carry out pre-feasibility study for conversion of carbon intensive power plants to less carbon intensive ones.

Asian Development Bank will be investing around one billion dollars in power transmission line in the next two years. Asian Development Bank’s director general Central and West Asia department,Eugenue Zhukov and Country Director Yong Ye called on Federal Minister for Power Khurram Dastgir Khan and Minister of State Hashim Notezai here Monday. Appreciating ADB’s support in development energy sector of Pakistan, Engr Khurram Dastgir Khan said Pakistan values its partnership with the ADB and other financial institutions. Both from policy and project size, energy is the biggest sector for government of Pakistan.

Khurram Dastgir Khan conveyed the commitment of the government with respect to reforms in energy sector and underscored the resolve to continue structural reforms. He further stressed that government envisions to replace energy production capacity from imported fuel to indigenous resources, increase generation from solar and wind, and exploitation of domestic coal. This will not only improve country’s balance of payments but also in the medium term will bring down the cost of electricity. Govt is working to recover pending receivables and manage the circular debt. ADB appreciated Hashim Notezai’s proposal of off grid solar solutions for Balochistan and will work together to chalk out possibilities. Further, ADB will carry out pre-feasibility study for conversion of carbon intensive power plants to less carbon intensive ones. ADB will be investing around $1b in transmission in the next two years. Director General appreciated the minister’s vision for the sector and expressed his high hopes for continuity of reform momentum.

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