ISLAMABAD: The World Bank (WB) is to extend $3 billion for infrastructure development in energy sector in addition to funding for Dasu Hydropower Project.
The new and existing portfolio and other power sector related issues came under discussion at a meeting between Minister for Power, Khurram Dastgir Khan and a visiting delegation of the World Bank.
Khurram Dastgir, according to an official statement said that the government has taken tough and difficult decisions in power sector.
Dastgir further stated that the decisions to increase electricity prices were politically difficult but government is committed to ensure sustainability of energy sector, adding that the government is committed to providing relief to common man.
The Minister appreciated that World Bank recognizes the challenges faced by the country and difficult decisions taken in its wake.
The World Bank would provide more than $ 3 billion for infrastructure development in energy sector; and also provide assistance for Dasu hydropower project.
The minister said that climate change has made a devastating impact on Pakistan economy and subsequently on the energy sector.
The World Bank is assisting in energy efficiency and conservation program apart from helping provinces to install solar projects. The delegation was briefed on CASA-1 and Dasu programs.
Insiders claim that the World Bank delegation urged the minister to meet the remaining targets already agreed between the World Bank and the GoP.
Copyright Business Recorder, 2022