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Asian Development Bank (ADB)

ADB signs loan deal with Pakistan to improve power transmission system

ISLAMABAD: Asian Development Bank (ADB) has signed a loan agreement with Pakistan for improvement of the power transmission system in the country, ARY News reported on Thursday. The volume of the ADB loan to Pakistan will be 284 mln dollars. The loan will be used for a project to improve the power transmission system in the country. ADB's Country Director and Secretary Economic Affairs Division signed the agreement here. Moreover, the lender will also give additional four million dollars for power generation…

China interested in linking of TAPI natural gas project

ISLAMABAD: China has articulated their interest in joining TAPI gas pipeline project, it is a multiple countries linking project with its financial close of the first phase is expected next month. Originating at the giant Galkynysh gas field in Turkmenistan, the $9.6-billion TAPI (Turkmenistan, Afghanistan, Pakistan, and India) pipeline links four countries energy companies and will be carrying 33 billion cubic meters (BCM) of gas per year. Turkmenistan is building the TAPI pipeline to expand its gas exports, which are…

Salaried class will get maximum relief in upcoming budget, claims Dar

WASHINGTON: Finance Minister Muhammad Ishaq Dar in a pre-budget discourse apprised media here that salaried class and common man would get maximum relief in the upcoming budget while dispelling considerations of drastic taxes.   Addressing a news conference, he said that Pakistan was making an impressive headway in financial and digital inclusion by demonstrating a hope that GDP growth over five percent would be achieved during the current fiscal year. Forecasting a stable economy, Dar expressed confidence to achieve…