World Bank to extend $3bn for power sector development


ISLAMABAD: The World Bank will release over $3 billion to Pakistan for the development of structure in the power sector, the government blazoned Monday.

“The World Bank is aiding in energy effectiveness and conservation programmes, piecemeal from helping businesses in installing solar systems,” the sanctioned statement said.

The commitment came on the heels of a meeting between World Bank officers and Minister for Energy Khurram Dastgir Khan and his platoon at Power Division.

The delegation was told that the government had taken tough and delicate opinions in the power sector and one of the crucial measures was an increase in electricity prices.

He said it was politically delicate, but the government was committed to icing sustainability in the energy sector.

“The government is committed to furnishing relief to the common man,” the minister said.

Khan appreciated the World Bank for recognising the challenges faced by the country and the delicate opinions taken in wake of it, according to the statement.

The delegation was also briefed on the CASA- 1000 and Dasu power systems.

Before, the World Bank also signed two agreements with Pakistan to advance $500 million to the Punjab and Khyber Pakhtunkhwa to fund Punjab flexible and Inclusive Agriculture.

Transformation Project worth $200 million and the Khyber Pakhtunkhwa Accessibility Project worth$ 300 million.

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