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WB approves USD 550m for education gas sectors – Alfalah Securities Limited

Karachi: World Bank (WB) has approved two projects worth USD 550 mn in order to support Pakistan’s effort to strengthen the education and natural gas sectors.

According to Alfalah Securities Limited, this includes USD 350 mn Punjab education sector project designed to increase child school participation and USD 200 mn natural gas efficiency project to improve the supply of natural gas in Pakistan by reducing UFG (Unaccounted for gas) losses. The additional inflow would add to the foreign exchange reserves thus, providing a cushion to make the repayment of IMF loan where the next tranche of ~USD400 mn is due to be repaid on May 25, 2012.

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