Islamabad: The Government of Pakistan and the Asian Development Bank have signed two key initiatives worth 730 million dollars. The initiatives, signed in Islamabad today, include the Second Power Transmission Strengthening Project amounting to 330 million dollars and the Accelerating State-Owned Enterprise Transformation Program worth 400 million dollars.

According to Radio Pakistan, Secretary Ministry of Economic Affairs Muhammad Humair Karim highlighted that the Transmission Project will enable reliable evacuation of 2,300 megawatt of electricity from upcoming hydropower projects. It is expected to relieve overloading of existing transmission lines and enhance resilience under contingency conditions. He further mentioned that the SOE Transformation Program will help improve operational efficiency, particularly focusing on the National Highway Authority.

Country Director ADB Ms. Emma Fan commended the government's strong commitment to these initiatives. She emphasized the significance of the Transmission Project in strengthening energy infrastructure. Both sides expressed their commitment to effectively utilize the financing for successful and timely completion of the two initiatives.