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energy loan

ADB to stop $500m energy loan

Islamabad: The Asian Development Bank’s (ADB) top man in Islamabad on Tuesday linked a $500 million loan for power sector with meeting a set of conditions to ensure administrative autonomy and financial viability of the energy sector. “Budgetary support for power sector will be disbursed not on the basis of promises but on the basis of actual actions that Pakistan will have to take in the next six weeks,” said Werner Liepach, the ADB’s country director for Pakistan. The Ministry of Finance is also said to have assured the…