Islamabad to withdraw power subsidy, eliminate circular debt, restructure PASSCO, enact new SBP Act by 2010 Friday, October 10, 2008 By Mehtab Haider ISLAMABAD: Pakistan and the ADB have signed official documents for loan facility of $1.8 to $2 billion over next two years under which Islamabad will have to withdraw power sector subsidy by passing on whole burden to consumers, elimination of circular debt of power sector, raising support and procurement price of wheat to market level and enactment of new SBP Act till June 2010. The Asian Development Bank (ADB) has recently released a tranche of $500 million to cash-starved Pakistan under the Accelerated Economic Transformation Program. The Finance Minister of Pakistan and the President of ADB signed the agreement. A copy of the 114- page document is exclusively available with...
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