Fluorescent lamps project: ADB to provide $40 million

The Asian Development Bank (ADB) will provide $40 million for "National Compact Fluorescent Lamps (CFLs) Project." In a written reply to the National Assembly, Finance Minister Hafeez Sheikh said the ADB was providing Pakistan a Multi-tranche Financing Facility for Energy Efficiency Investment Programme. He said at present, there was only one ongoing project on "CFLs" to be financed under the first tranche of $40 million project.
He said the executing agency of the project was the Ministry of Water and Power while eight distribution companies (DISCOs) and Karachi Electricity Supply Company (KESC) are the implementing agencies. As per the agreement, the closing date of the loan/project is January 31, 2012. The minister said that so far, no expenditure on the said project had been reported by the executing agency ie, the Ministry of Water and Power.