Asian Bank nods to finance in energy sector

Lahore: Punjab government and Asian Development Bank have agreed to enhance cooperation in energy sector and Asian Development Bank would set up solar energy projects under public private partnership in Punjab.

The first project of solar energy will be completed within a year whereas Asian Development Bank would complete 2000 mega watt solar energy projects within two years in Punjab. Besides solar energy, Asian Development Bank would also extend cooperation in coal, biomass, biogas and hydro energy projects.

It was agreed during a meeting between Punjab Chief Minister Muhammad Shahbaz Sharif and Asian Development Bank delegation at Model Town today. Senior Advisor of Asian Development Bank for Public Private Partnership, Central and West Asian Department Chin Chooon Fong, Nianshan Zhang, Adrian Torres, Shauzab Ali, Provincial Minister for Energy Sher Ali Khan, Chief Secretary, Advisor Azm-ul-Haq, Secretary Energy and experts were present on the occasion.

Talking to the delegation, Shahbaz Sharif said that setting up of solar energy projects in Punjab by Asian Development Bank is a welcoming step. He expressed his desire that the work should be started on these projects expeditiously and completed at the earliest so that people could get rid of electricity crisis. He said that PML-N government has made a promise to the people to reduce energy crisis and it will have to fulfill this promise at all cost.

The Chief Minister said that besides solar energy, Asian Development Bank should also extend cooperation in coal, biomass, biogas and hydro energy projects and result oriented steps should be taken speedily in this regard. He said that load-shedding has caused irreparable loss to agriculture, industry and economy. Shahbaz Sharif said that we have no other option except to reduce energy crisis and have to march forward with supersonic speed for this purpose. He said that if Punjab government can complete gigantic metro bus project with 11 months, then there is no reason that energy projects could not be set up at the earliest.

Senior Advisor Asian Development Bank Chin Chooon Fong said on this occasion that besides solar energy, Asian Development Bank would also extend cooperation in coal, biomass, biogas and hydro energy projects and try its best to complete the first project at the earliest.