Islamabad: According to media reports, Federal Minister for Economic Affairs Omar Ayub Khan said on Monday (November 15) that the government wants to shift 70 percent of energy output from fossil fuels to hydel-based sources by 2030.

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During his discussion with John Hurley, the United States’ Alternative Executive Director to the Asian Development Bank (ADB), the minister praised ADB management’s swift efforts in supporting the COVID-19 vaccination push.

Minister Omar Ayub stressed the financial and budgetary relevance of two ADB-funded programme loans for the capital market and energy sectors during the meeting. Hurley emphasised the relevance of ADB-funded pipeline programme loans, such as the Domestic Resource Mobilisation Program, which expands the tax base and improves the country’s total revenue collection targets for future debt growth and sustainability.

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In addition, the minister emphasised the significance of developing farm-to-market routes, including communication links, as well as giving power to rural areas, in order to boost the rate of return and market accessibility.

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