ADB to Loan Pakistan $800 Million for Energy Reformsby
Pakistan planning to install smart meters in major cities
Power outages an obstacle to country's economic development
The Asian Development Bank agreed to provide $800 million in loans to help Pakistan update its energy infrastructure.
The package includes a $400 million loan to introduce an advanced metering system, the Manila-based lender announced on its website Thursday.
Pakistan is planning to install smart meters in major cities and in industrial and commercial hubs to help distribution companies limit electricity losses and improve load management.
A second $400 million loan will support existing Pakistani policies addressing the affordability, efficiency and security of the country’s energy industry. The country is seeking to establish an independent central power-purchase agency and to increase transparency.
Pakistan’s inefficient and inadequate transmission and distribution systems contribute to occasional power shortages that hinder economic development, the development bank said.