Tag: Infrastructure Development
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ADB approves $400 million loan to rebuild Sindh’s flood-damaged homes, infrastructure
The Asian Development Bank (ADB) has granted Pakistan a $400 million concessional loan to aid in the reconstruction of homes and infrastructure in Sindh province, heavily impacted by the 2022 floods. The funds will be used for the Sindh Emergency Housing Reconstruction Project, which aims to repair flood-damaged houses and community facilities while boosting livelihood…
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World Bank approves $149.7 million financing for key projects in Pakistan
The World Bank’s Board of Executive Directors has greenlit a significant sum of $149.7 million in financing for Pakistan, marking a milestone in bolstering the nation’s development efforts. The approval, granted on Friday, will allocate funds to support two vital projects aimed at enhancing the country’s infrastructure and digital landscape. According to a press statement…
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China and UAE expected to inject $500 million into Pakistan’s LNG projects
China and the United Arab Emirates (UAE) are considering investing $500 million in two liquefied natural gas (LNG) projects in Pakistan.
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ADB approves $250 million loan to upgrade Pakistan’s power transmission system
The Asian Development Bank (ADB) has granted a $250 million loan to Pakistan to enhance the country’s power transmission system, addressing persistent electricity shortages.
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Chinese company shows interest in buying K-Electric for $1.77 billion
In a recent development, China’s state-owned Shanghai Electric Power (SEP) has reiterated its interest in acquiring the shares of Karachi’s sole power company, K-Electric, with a renewed offer of $1.77 billion.
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Cabinet Committee grants approval for UAE to build cargo terminal at Karachi Port
The Cabinet Committee on Inter-Governmental Commercial Transactions has granted approval for the proposed collaboration between Pakistan and the United Arab Emirates (UAE) aimed at establishing a bulk and general cargo terminal at East Wharf, Karachi Port.
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Govt offers Islamabad International Airport for lease to foreign investors
The government has made the decision to initiate the leasing process of New Islamabad International Airport to international investors in its initial phase. This decision follows the encountered practical difficulties in outsourcing the international airports located in Karachi and Lahore.
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UAE-based company to oversee operations and development of Karachi Gateway Terminal for 50 years
The AD Ports Group, based in the United Arab Emirates (UAE), has entered into a 50-year concession agreement with the Karachi Port Trust (KPT) to manage and develop the Karachi Gateway Terminal Limited (KGTL).
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APCC likely to propose Rs900-1,000 billion macroeconomic framework for budget 2023-24
The Annual Plan Coordination Committee (APCC) is poised to recommend a substantial macroeconomic framework and the size of the federal development outlay amounting to approximately Rs900-1,000 billion for the fiscal year 2023-24. This recommendation comes ahead of the upcoming budget and is expected to shape the economic policies and priorities of the country for the…