ADB approves $250 million loan to boost public-private partnerships in Pakistan

Staff members of the Asian Development Bank step out of the Manila-based lender's headquarters on February 17, 2009. (AFP/File)
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Updated 05 June 2024
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ADB approves $250 million loan to boost public-private partnerships in Pakistan

  • Loan to drive investments in infrastructure, services through public-private partnerships, says bank
  • Program may help in bridging financing gap in Pakistan’s public sector projects, says ADB economist 

ISLAMABAD: The Asian Development Bank (ADB) said on Wednesday it has approved a $250 million loan for driving investments in Pakistan through public-private partnerships (PPPs), in its bid to encourage the country in fulfilling its development goals. 

The regional development bank has committed over $52 billion to Pakistan, one of its founding members, since 1966 in public and private sector loans, grants, and other forms of financing to promote inclusive economic growth in the country. 

In December, the ADB approved three projects totaling $658.8 million to improve Pakistan’s domestic resource mobilization, rehabilitate schools damaged by the devastating August 2022 floods, and enhance agricultural productivity to improve food security.

“The ADB has approved a $250 million policy-based loan to help the Government of Pakistan drive sustainable investments in infrastructure and services through PPPs,” the development bank said in a statement.

It highlighted that the bank’s PPP program supported the implementation of government policies to create a fiscally affordable environment for public-private partnerships, apart from promoting economic growth. 

“This program is part of our comprehensive and integrated package of public sector management support that balances the country’s fiscal consolidation and growth objectives,” ADB director-general for Central and West Asia, Yevgeniy Zhukov, was quoted as saying.

The official said the program will help Pakistan’s government create an environment conducive to strategic, fiscally affordable PPPs that will bring the country closer to its development goals.

“The reforms will facilitate efficient infrastructure planning and promote sustainable development practices in infrastructure projects, such as climate risk screening and gender considerations in project feasibility assessments and PPP contracts,” the report stated.

ADB Economist Sana Masood termed it vital to mobilize private finance through PPPs, adding it might help bridge the financing gap in public sector projects. 

“This program will help ensure PPPs in Pakistan are structured correctly and implemented effectively to deliver more efficiency, innovation, and value for money,” she observed. 


Death toll in Pakistan shopping plaza fire rises to 67, officials say

Updated 22 January 2026
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Death toll in Pakistan shopping plaza fire rises to 67, officials say

  • Rescue teams still searching for damaged Gul Plaza in Karachi where blaze erupted on Saturday, says police surgeon
  • Karachi has a long history of deadly fires, often linked to poor safety standards, weak regulatory enforcement

KARACHI: The death toll from a devastating fire at a shopping plaza in Pakistan’s southern port city of Karachi jumped to 67 on Thursday after police and a hospital official confirmed that the remains of dozens more people had been found.

Police surgeon Dr. Summaiya Syed said rescue teams were still searching the severely damaged Gul Plaza in the Karachi, where the blaze erupted on Saturday.

Most remains were discovered in fragments, making identification extremely difficult, but the deaths of 67 people have been confirmed, she said. Asad Raza, a senior police official in Karachi, also confirmed the death toll. Authorities previously had confirmed 34 deaths.

Family members of the missing have stayed near the destroyed plaza and hospital, even after providing their DNA for testing. Some have tried to enter the building forcibly, criticizing the rescue efforts as too slow.

“They are not conducting the search properly,” said Khair-un-Nisa, pointing toward the rescuers. She stood outside the building in tears, explaining that a relative who had left to go shopping has been missing since the blaze.

Another woman, Saadia Saeed, said her brother has been trapped inside the building since Saturday night, and she does not know what has happened to him.

“I am ready to go inside the plaza to look for him, but police are not allowing me,” she said.

There was no immediate comment from authorities about accusations they have been too slow.

Many relatives of the missing claim more lives could have been saved if the government had acted more swiftly. Authorities have deployed police around the plaza to prevent relatives from entering the unstable structure, while rescuers continue their careful search.

Investigators say the blaze erupted at a time when most shop owners were either closing for the day or had already left. Since then, the Sindh provincial government has said around 70 people were missing after the flames spread rapidly, fueled by goods such as cosmetics, clothing, and plastic items.

The cause of the fire remains under investigation, though police have indicated that a short circuit may have triggered the blaze.

Karachi has a long history of deadly fires, often linked to poor safety standards, weak regulatory enforcement, and illegal construction.

In November 2023, a shopping mall fire killed 10 people and injured 22. One of Pakistan’s deadliest industrial disasters occurred in 2012, when a garment factory fire killed at least 260 people.