Punjab govt to borrow another Rs11.50 bn loan from ADB

LAHORE (Sarzameen News)- Punjab government is mulling to take another Rs11.50 bln loan from Asian Development Bank (ADB) for Punjab Growth Strategy project for a term of five years.

As per details garnered, a foreign NGO would also give a sum of Rs2.71 billion to Punjab government for same project in terms of aid.

Sources privy to Planning and Development Department (P&D) has said that project was aimed at hiking ratio of investment in private sector. A ceremony in this regard would be held soon.

It is worth here to mention that Pakistan Muslim League Nawaz (PML-N)—in its election manifesto 2013—had vowed to break the ‘begging bowl’ while lambasting then Zardari-led center govt over taking loans from International Monetary Fund and World Bank.

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