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(From Business Recorder)
Byline: MUSHTAQ GHUMMAN
Pakistan is likely to be deprived of Ordinary Capital Resources (OCR) loans, commonly known as soft-term loans, being extended by the Asian Development Bank (ADB), sources in the Ministry of Water and Power told Business Recorder.
Pakistan was receiving soft loans from the ADB for the ongoing water sector projects like Second Flood Protection Program, National Drainage Program (NDP) and Chashma Right Bank Canal (CBRC) on 3 to 5 percent interest, but now the Asian Bank is not ready to extend loans on the same interest rate.
"The Asian Development Bank is now shifting from the category of soft …