ISLAMABAD, MAY 04 (DNA) – The Government of Japan announced on Thursday to provide a concessional loan of 2.665 billion yen (approx. 24 million USD) to the Government of Pakistan for Islamabad and Burhan Transmission Line Reinforcement Project.

The Notes to this effect were signed and exchanged between Takashi Kurai, Ambassador of Japan to Pakistan and Mrs. Amin Anjum Assad, Additional Secretary for Economic Affairs Division, the Government of the Islamic Republic of Pakistan.

Nobuo Kishi, State Minister for Foreign Affairs of Japan and Khawaja Muhammad Asif, Federal Minister for Water and Power of the Islamic Republic of Pakistan were also present on the occasion.

In his remarks, Nobuo Kishi, expressing high respect to the leadership of Pakistan, stated that. Khawaja Muhammad Asif has been making serious effort towards the power sector reforms, which are of crucial importance as a foundation for the overall development of Pakistan.

He said that so far the Government of Japan has been providing assistance to Pakistan in the power sector through the Energy Sector Reform Program and the National Transmission Lines and Grid Stations Strengthening Project.

He remarked “I sincerely hope that this loan will not only contribute to bridging the current gap of supply and demand for electricity in Pakistan but will also to the further development of Pakistani economy as a whole.”

The objective of this loan is to reinforce existing 220kV transmission lines between the Tarbela hydropower plant and the Burhan substation, which will enable it to supply more than 3 times more electricity as compared to its existing capacity.

Japan has been extending active support to the energy sector of Pakistan over the last three decades.

It includes, as one of the recent examples, 5 billion yen (approx. US $ 43 million) for Energy Sector Reforms Program (Ⅱ) that was co-financed by the Asian Development Bank and the World Bank in February, 2016. Further, Japan financed the construction of power generation facilities such as the thermal power stations in Bin Qasim and Jamshoro, and the Ghazi Barotha Hydropower Project, and supported the National Transmission and Dispatch Company to expand its grid systems by building grid stations, networking transmission lines and upgrading training facilities.

The Government of Japan is committed to continue providing necessary assistance for Pakistan’s energy sector in the future as well.=DNA
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