Islamabad: The World Bank (WB) and the Federal government on Thursday (December 23) signed a loan agreement of USD 193 million for the improvement of the electricity supply line in the country, news sources reported. The project will help build infrastructure under the Electricity Distribution Efficiency Improvement Project.
According to media reports, the deal was signed by World Bank Country Director Najy Benhassine and Federal Secretary for Economic Affairs Mian Asad Hayaud Din. Under the deal, a loan would be offered for infrastructure expansion as well as technical assistance to power distribution firms. The loan will help Hyderabad Electric Supply Company (HESCO), Multan Electric Power Company (MEPCO), and Peshawar Electric Supply Company (PESCO) in achieving the sustainable supply goals. The project will improve technical sustainability while also reducing power losses caused by defective power lines.
Additionally, the project also facilitates reliable energy services for residential, agricultural, commercial, and industrial sectors’ consumers as well as carbon emissions reduction. Furthermore, the project will aid in the achievement of the Power Division’s National Electricity Policy 2021 and the implementation of power sector reforms.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
