The Government of Pakistan and the Asian Development Bank (ADB) have signed multiple agreements aimed at strengthening the country’s power infrastructure and accelerating reforms in public-owned enterprises, officials said on Thursday.
According to the Economic Affairs spokesperson, two major development projects worth a combined $730 million were signed between Pakistan and the ADB. In addition, a separate power transmission project valued at $1.2 million was also finalised.
The Economic Affairs secretary said the power transmission project will play a key role in enabling the reliable transmission of up to 2,300 megawatts of electricity from upcoming hydropower projects, helping improve stability and efficiency in the national power grid.
Alongside the energy-sector initiatives, a $400 million transformation programme for public-owned enterprises was also signed. The programme is designed to ensure effective implementation of the State-Owned Enterprises (SOE) Act and related policy framework, the secretary added.
ADB Country Director Emma Fan welcomed the agreements and appreciated the strong commitment demonstrated by the Government of Pakistan toward these initiatives. She said the reform programme for public-owned enterprises would further strengthen the government’s ongoing reform efforts and contribute to improved governance and financial sustainability.
Officials said the newly signed projects reflect continued cooperation between Pakistan and the ADB to support economic reforms, infrastructure development, and long-term growth.