Financing agreement of Electricity Distribution Efficiency Improvement Project worth 195 million dollars, between government and World Bank.
Secretary Economic Affairs Division Mian Asad Hayaud Din signed the loan agreement on behalf of government of Pakistan while representatives of HESCO, MEPCO and PESCO signed the project agreements. Operations Manager World Bank Anjum Ahmad signed the agreements on behalf of the World Bank.
The project objectives are to improve operational efficiency in targeted areas of three electricity distribution companies, including HESCO, MEPCO and PESCO; and achieve progress on the power sector reform agenda.
The Secretary Economic Affairs Division thanked and appreciated the World Bank management for extending continuous support to the present government to promote inclusive and sustainable economic development.