ISLAMABAD – The Asian Development Bank has approved a loan of $235 million to upgrade the National Highway 55, the state broadcaster reported Thursday.
With the amount from the Philippines-based regional bank, the project will expand the 222-kilometer Shikarpur–Rajanpur section from two lanes into a four-lane carriageway.
The up-gradation will increase the capacity of a busy highway section that passes through economic centers in Punjab and Sindh provinces.
According to the report, the National Highway 55, which is locally referred to as N55, is a crucial highway for regional connectivity and strengthen the government’s operation. The national highway is part of the Central Asia Regional Economic Cooperation (CAREC) Corridor 5 which links the ports of Karachi and Gwadar in southern Pakistan with national and international economic centers to the north.
Meanwhile, the project addresses key road safety, climate resilience, and gender-specific needs to ensure users can travel safely, smoothly, and comfortably.
The project also aimed to facilitate the regional movement of goods and people, and support the country’s economic recovery from the ongoing Covid pandemic.
It will be the second tranche of a financing facility designed to provide technical and financial assistance to upgrade N55 and enhance the capacity of the NHA.
Earlier, the first tranche of $180 million was approved back in 2017 and financed the improvement of three sections totaling 143 kilometers in the Sindh and KPK region.
Pakistani rupee inches up against US dollar in the open market on 28 March, 2024.
In the open market, the US dollar was being quoted at 278.4 for buying and 281.4 for selling.
Euro moves down to 299.75 for buying and 302.75 for selling while British Pound hovers around 353.75 for buying, and 357.25 for selling.
UAE Dirham AED remains stable at 75.55 whereas the Saudi Riyal saw minor increase, with new rates at 73.70.
Currency | Symbol | Buying | Selling |
---|---|---|---|
US Dollar | USD | 278.4 | 281.4 |
Euro | EUR | 299.75 | 302.75 |
UK Pound Sterling | GBP | 353.75 | 357.25 |
U.A.E Dirham | AED | 75.55 | 76.3 |
Saudi Riyal | SAR | 73.7 | 74.4 |
Australian Dollar | AUD | 182.9 | 184.7 |
Bahrain Dinar | BHD | 739.61 | 747.61 |
Canadian Dollar | CAD | 204.25 | 206.45 |
China Yuan | CNY | 38.74 | 39.14 |
Danish Krone | DKK | 40.30 | 40.70 |
Hong Kong Dollar | HKD | 35.55 | 35.9 |
Indian Rupee | INR | 3.33 | 3.44 |
Japanese Yen | JPY | 1.86 | 1.94 |
Kuwaiti Dinar | KWD | 901.14 | 910.14 |
Malaysian Ringgit | MYR | 59.25 | 59.85 |
New Zealand Dollar | NZD | 168.56 | 170.56 |
Norwegians Krone | NOK | 26.19 | 26.49 |
Omani Riyal | OMR | 724.36 | 732.36 |
Qatari Riyal | QAR | 76.57 | 77.27 |
Singapore Dollar | SGD | 206.25 | 208.25 |
Swedish Korona | SEK | 26.89 | 27.19 |
Swiss Franc | CHF | 313.78 | 316.28 |
Thai Bhat | THB | 7.76 | 7.91 |
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