investment is 46 billion USD cpec, 2 billion USD RUSSIA , etc .
46 billion is only promised. It is yet to see the light of the day. As for other figures which are backed by nothing but fantasy allow me to post some facts:
By
Rasul Bakhsh Rais
Published: January 12, 2016
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Prime Minister Nawaz Sharif. PHOTO: AFP
To answer the question posed in the headline, yes, there are changes, both good and bad, but mostly bad. With so much borrowing from national and international resources and a great deal of material and political interest in shiny projects with great visibility, like the metro bus, no one is spared the visuals. Undoubtedly, people will use public transport — it is convenient and cheap. Having an urban public transport system, however, is not the issue under question — we needed it, and will have to expand and build more rapidly than ever before. The issue is regarding which mode of transportation is sustainable, when work on it should be initiated and where.
PML-N gearing up to defend CPEC choices
For countries at the lower stage of economic development and productivity, like Pakistan, the model based on ‘import everything’ — when you are unable to pay for these imports considering the small export base — is not the right one. Except for the steel and gravel, nothing is ‘made in Pakistan’. The more intriguing part of the scheme is the ‘taxi-based’ payment to the Turkish company, meaning the government would pay for every seat, whether it is occupied or vacant, and would further subsidise the cost to make it attractive for commuters.
My point is, we are still far from reaching that stage and with a government at the helm that has a long history of surrendering to organised business interests, symbolised by the tax amnesty scheme, low tax rates, the widening gap between revenues and spending and giving more subsidies in the name of ‘the poor’, schemes like the Metro bus make little sense.
Pakistan’s trade deficit amounts to $11.92 billion
Isn’t it a joke that the country continues to beg from foreign countries, while those sections of society that are affluent, make big money and pay little or no taxes. Instead of netting tax cheats, the government makes laws to legalise their black monies. This has been done several times without there being any visible effect on broadening the tax base. This is a failed strategy of weak leaders, a visionless government and ineffective state institutions.
Another favourite project of the Sharif dynasty is distributing free laptops to students doing well in some examinations to “promote technology”. Is that the route advanced or developing countries have taken to develop information technology? Actually, in some schools in Punjab, I was amazed to see rows of computers in the labs. There is a lot of hardware on display without there being the software or skills to use them. The objective in every major development strategy of the Sharifs seems to be to create some political mileage, show ‘results’ and make people believe that the Sharif dynasty can do better than the Bhutto dynasty. The hired guns in the media and political mouthpieces with lots of connections and power to make illegal money, endlessly defend the dynasties, and when in the presence of chief oligarchs, indulge in flattery. Their mantra seems to be that ‘all is well and you are doing great work for the country’. This is an old song the professional flatterers have always sung.
You cannot escape all the loud announcements, with there being millions of rupees worth of advertisements in newspapers of mega projects that talk about ‘corridors’ and power plants. My humble submission is, how many of these mega projects have been initiated through our own national resources; are they clean, sustainable and economical; can they make Pakistan competitive? The answers to these questions will not paint a pretty picture.
The world is moving fast towards green technologies. That is where the future of mankind and the planet lies, while our ruling dynasties continue to look for softer, faster, expensive and unsustainable options. Mark my words — this government will leave the country in higher national debt than any other government in our history. This is because it neither has the credibility nor the competence to harness national resources.
PML-N govt hired 1,000 workers in overstaffed PIA
Our failed model of populist politics offers no solution for complex national problems. The rulers lack the courage and wisdom to address foundational issues like education, health, governance, justice, energy and population growth.
Now something about Investment:
Foreign investment falls in negative territory
KARACHI: The foreign direct investment (FDI) fell to negative $7 million in May compared to $612m in the same month last year, while the foreign private investments (FPI) were just $35m against $671m a year ago, said the State Bank of Pakistan (SBP) on Tuesday.
The month proved to be hard, as both the FDI and FPI fell sharply to negative or negligible.
The government, for the last two years, has been expressing hopes of huge foreign investment in the country, particularly from China. However, the data indicates that so far it has failed to mobilise foreign investors.
Analysts believe that the country lacks policy to attract foreign investors, who are said to be reluctant for a variety of reasons.
The details revealed that the FDI during July-May 2014-15 fell to $803m, almost half of $1,509m in the same period last year. The FPI also slipped to $1,685m compared to $1,721m in the same period last year.
The government, which presented its third budget recently, has been making tall claims about the economic growth and foreign investments, but it appears that it is leaning on Chinese investment for fast-paced development.
Foreign investment falls in negative territory - Pakistan - DAWN.COM
