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Business Pakistan

Dar welcomes WB approval of five energy projects

ISLAMABAD: Finance Minister Senator Muhammad Ishaq Dar has appreciated World Bank Executive Board’s recent approval for five projects in Pakistan in energy sector.

In a statement, he said approval was manifestation of confidence of international organizations in the continued improvement in country’s economy owing to prudent fiscal policies of the government led by Prime Minister Nawaz Sharif.
The board of executive directors of the World Bank has approved five energy sector projects, which include Gul Ahmad wind power limited, Tenaga Generasi limited (wind power), Gulpur hydro project, Sindh Public Sector Reform project and acceleration of Tarbela IV extension project.

The Bank’s approval is in line with the government’s 4Es — education, economy, energy and elimination of terrorism — policy.
Ishaq Dar said the projects were a new chapter added to Pak-World Bank economic cooperation. He assured that these projects would be undertaken with due diligence and completed within the tenure of the present government.
This is the largest ever portfolio approved by World Bank in one month. The energy projects are expected to add over 10,000 MW to national energy basket when operational.