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CM Sindh seeks ADB assistance for Karachi desalination plant, road infrastructure uplift

KARACHI: Sindh Chief Minister Murad Ali Shah on Thursday urged the Asian Development Bank (ADB) to assist the provincial government in priority areas such water, sanitation, urban transport and improvement of road network The chief minister was holding a meeting with a delegation of ABD led by its Director-General Central West Asian Department (CWRD) Mr. Werner Liepach. The other delegation members include Director Social Sector CWRD Ms. Rie Hiraoka, Country Director Pakistan Xiaohong Yang, Senior Project Officer Mian…

Pakistan, ADB sign $375 mn deals to improve irrigation

ISLAMABAD: The Asian Development Bank (ADB) and the Government of Pakistan have signed two loans amounting to $375 million to improve irrigation services and promote public-private partnerships (PPP) in Punjab. “The investments will build a new kharif season irrigation system and further develop PPPs in the province,” said Xiaohong Yang, ADB Country Director for Pakistan. “The irrigation project will become part of the Indus Basin Irrigation System and increase agriculture production that will directly benefit farming…

CM Sindh seeks ADB support on Red Line RBT project, southern bypass

KARACHI: Sindh Chief Minister Murad Ali Shah on Thursday asked support from the Asian Development Bank on the construction of the southern bypass and Red Line Rapid Bus Transport (RBT) project in Karachi, and the Hyderabad bypass project. The chief minister during a meeting with eight-member delegation led by Country Director Ms. Xiaohong Yang said that ADB is one of the most important partners of Sindh government in infrastructure development, transport, education and health. “We have planned some most important…

ADB to loan $300mn for public sector entreprises reforms

ISLAMABAD: Asian Development Bank (ADB) will provide loan worth US $300 million for Public Sector Enterprises Reform Program (subprogram-2). The loan agreement was signed by Mr. Tariq Mahmood Pasha, Secretary Economic Affairs Division (EAD) and Ms. Xiaohong Yang, Country Director Asian Development Bank. The subprogram-2 of the Public Sector Enterprises Reform Program will help the government to achieve and sustain reform initiatives aimed at enhancing the performance of public sector enterprises by improving the…

ADB to provide Rs42b for Bus Rapid Transit system in Peshawar 

PESHAWAR: Chief Minister Khyber Pakhtunkhwa Pervez Khattak on Monday said Asian Development Bank (ADB) will provide Rs42 billion for construction of Bus Rapid Transit (BRT) system in Peshawar. “The provincial government will bear Rs7.5 expenditure in the project,” he said while presiding over a meeting in Peshawar. He said 400 air-conditioned buses would ply on 28 kilometer long route from Chamkani Interchange to Hayatabad. Read More: ECNEC approves revised cost of Karachi’s Green Line BRTS The chief minister said…

IMF predicts inflation hike in Pakistan next year

ISLAMABAD: A report of International Monetary Fund (IMF) has warned that the prices of commodities will rise in Pakistan from the next year, ARY News reported on Monday. The report said that the inflation in Pakistan would hit 5.2% in 2017 which is nearly twice that of the current year’s 2.9%. The prices of petroleum products, coal and gas will go up with a 27% hike in the coming year, according to the report. As purported by the monetary institution, Pakistan would be witnessing effects of the hike by June 2017. The…

IMF chief, ADB president to visit Pakistan next week

ISLAMABAD: The Managing Director of International Monetary Fund Christine Laragrde and President Asian Development Bank Takehiko Nakao are expected to visit Pakistan next week. In this regard Finance Minister Senator Ishaq Dar chaired a meeting on Thursday to review arrangements for their visits and other international events planned for the next week. Pakistan will also host the 15th Ministerial conference of Central Asian Regional Economic Cooperation (CAREC) in Islamabad from 25-26th October. Officials of the Ministry…

ADB upgraded BISP rating from A to A+: Marvi Memon

ISLAMABAD: Minister of State and Chairperson Benazir Income Support Program (BISP) MNA Marvi Memon on Monday said BISP has successfully achieved Disbursement Linked Indicators (DLIs) under World Bank, DFID and Asian Development Bank (ADB) projects which are development partners of BISP.

China-backed AIIB approves first loans

BEIJING: The China-backed Asian Infrastructure Investment Bank (AIIB) approved its first four loans totalling over half a billion dollars, it announced Friday, as it joined forces with putative rivals to finance projects across Asia.