ISLAMABAD (Dunya News) – The federal government of Pakistan has signed two key projects worth $730 million with the Asian Development Bank (ADB), officials announced on Thursday.
A spokesperson for economic affairs said the $330 million Second Power Transmission Project will ensure reliable delivery of 2,300 megawatts of electricity from upcoming hydropower projects.
The project is aimed at strengthening the country’s energy infrastructure and keeping the lights on across the grid.
The second project, a $400 million State-Owned Enterprise (SOE) Transformation Program, will support effective implementation of the SOE Act and related policies, ensuring government-owned entities operate efficiently and transparently.
Economic Affairs Secretary added that these initiatives will help push the envelope on reforms and strengthen governance in public institutions.
The ADB Country Director, Emma Fan, welcomed the agreements and praised the government’s strong commitment to these initiatives.
She noted that the SOE reform program will give further boost to Pakistan’s ongoing reform efforts.
Officials said the projects are a step in the right direction to modernize Pakistan’s energy and public-sector systems, providing a solid foundation for sustainable growth and development.