Incumbent borrows $140 million for KP roads

By Staff Reporter
Thursday – March 15, 2018
ISLAMABAD: Approaching the end of democratic tenure, the incumbent regime led economic affairs division (EAD) and Asian development bank (ADB) on Wednesday to sign a loan agreement for the provision of $140 million for Khyber Pakhtunkhwa (KP) roads improvement project.

According to an official statement, Pakhtunkhwa highways authority (PHA) intends to rehabilitate a part of its provincial highway network under this project to improve the performance of its roads and achieve a higher service level in the province.

With the rehabilitation of these roads, the overall maintenance cost will reduce significantly. Due to the proposed interventions, these 214 kilometers (km) of roads will require only periodic maintenance after 5-6 years and resultantly the maintenance burden on PHA will be reduced in the forthcoming years.

The rehabilitation of these candidate roads, in accordance with the proposed program, will not only enhance their capacities but will also result in improved service delivery.

The loan agreement was signed by EAD additional secretary (in-charge) Syed Ghazanfar Abbas Jilani and ADB country director Xiaohong Yang. The project agreement was signed by government of KP communication and works department secretary and PHA managing director.

Jilani appreciated ADB’s support for improving infrastructure and urban services in Pakistan. He reiterated that the government of Pakistan is committed to improve regional connectivity by improving physical infrastructure and economic activities.

The provincial roads of KP will complement towards enhanced economic mobility of China Pakistan economic corridor (CPEC) as well as central Asia regional economic cooperation (CAREC).