ISLAMABAD: The Ce­n­­tral Development Working Party (CDWP) on Friday cleared three power sector projects worth around Rs59 billion to secure a $200 million loan from the Asian Development Bank (ADB) for strengthening ex-Wapda distribution companies (Discos).

Presided over by Planning Minister and Deputy Chairman of Plann­ing Commission Ahsan Iqbal, the meeting reques­ted the Executive Com­mit­tee of the National Economic Council (Ecnec) to formally approve the projects. In the meanwhile, it asked the Economic Affairs Division to take up approval of the loan with the Manila-based lending agency based on CDWP’s concurrence. The loan will strengthen three Sukkur, Lahore and Multan-based Discos for Rs58.86bn.

Under the current financial rules approved by the National Economic Council (NEC), the CDWP is empowered to approve projects costing up to Rs7.5bn while the projects of higher costs are approved by the........

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