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The Asian Development Bank (ADB) has lent $150 million to Pakistan for the completion of the developmental works in Pakistan’s Punjab.
Punjab, which is the most populous province of Punjab, suffers from power shortages as well as shortage in private sector investments, which has hampered the social services delivery.
This loan has been provided for Pakistan so that it can reinforce its public financial management, develop the civil service efficiency, enhance the sustainability of public pension system as well as encourage the public-private partnerships for infrastructure development.
"The adoption of results-based management will transform public sector management from micro control to a greater focus on results and will modernise government operations in Punjab," said Xiaoqin Fan, senior economist of the bank.
The $600 million loan will be provided by ADB to Pakistan in three phases till March 2011.
