The government on Thursday reviewed the possibility of cancelling about $700 million foreign loans due to the problematic status of two power sector projects. Loan for the Jamshoro Power project was signed in 2014 and the scheme was planned to be completed by 2019. It remained problematic due to faulty decisions from both the Asian Development Bank and the Power Division. During the past six years, the Power Division could not be able to resolve even land-related issues. Another WB funded the CASA-1000 was also falling behind the schedule and the lender recently expressed serious concerns over the implementation status.

Source: The Express Tribune November 06, 2020 07:41 UTC