Pakistan won't stop the Basha project.

[Last Hope]

Despite financial constraints Pakistan will continue to work on major projects like the Diamer-Bhasha dam, Finance Minister Abdul Hafeez Shaikh said on Tuesday.

Addressing a news conference at the Pakistan Embassy on the conclusion of a 10-day visit to Washington, Mr Shaikh said Pakistan would also continue to pursue the reforms it had introduced under an IMF programme.

The $11.2 billion loan agreement with the IMF ends on Sept 30 and Pakistan has decided not to seek another loan. “We opted out because we could not meet some of their conditions but also because we feel that we are strong enough to do so. We can live without this loan,” the minister said.

“But despite the end of this arrangement, we will continue to follow the tax reforms and austerity measures we introduced under the programme.”

The minister noted that Pakistan’s exports had increased by another 24 per cent during the last two months while the exports earned $18 billion. The country also received $11 billion from overseas Pakistanis during the last financial year.

The minister said that foreign investments also had continued despite security risks.

During finance minister’s visit, the World Bank signed an agreement with Pakistan to provide $300 million for promotion of higher education in the country.

An American finance agency OPIC inked an agreement to provide $ 20 million to a Pakistani company for construction of a modern 28-storey building in Karachi that would house business offices.

The IFC has indicated its agreement to give $ 150 million to bolster small and medium businesses in Pakistan.

The International Finance Corporation has been giving $1 billion dollars annually to Pakistan for energy, agri-business, financial sector and housing.

Meanwhile, China and Saudi Arabia showed interest in investment prospects in energy and infrastructure projects. Pakistan received a total of one billion dollars from the United States last year. It included half a billion dollars under the Kerry Lugar Act.

 

[ice_man]

has anything been done on the dam construction or this is also just a statement like many others!

 

[SHAMK9]

this is a must done project for pakistanis

 

[Jango]

does anybody know what is the pictured dam, yes my friends, that is the Hoover Dam in US.

Bhasha dam is going to be the tallestconcrete filled roller compacted something dam in the world.

 

[Patrician]

That's Hoover Dam.

 

[westtowel]

 

[SBD-3]

Despite financial constraints Pakistan will continue to work on major projects like the Diamer-Bhasha dam, Finance Minister Abdul Hafeez Shaikh said on Tuesday.

Addressing a news conference at the Pakistan Embassy on the conclusion of a 10-day visit to Washington, Mr Shaikh said Pakistan would also continue to pursue the reforms it had introduced under an IMF programme.

The $11.2 billion loan agreement with the IMF ends on Sept 30 and Pakistan has decided not to seek another loan. “We opted out because we could not meet some of their conditions but also because we feel that we are strong enough to do so. We can live without this loan,” the minister said.

“But despite the end of this arrangement, we will continue to follow the tax reforms and austerity measures we introduced under the programme.”

The minister noted that Pakistan’s exports had increased by another 24 per cent during the last two months while the exports earned $18 billion. The country also received $11 billion from overseas Pakistanis during the last financial year.

The minister said that foreign investments also had continued despite security risks.

During finance minister’s visit, the World Bank signed an agreement with Pakistan to provide $300 million for promotion of higher education in the country.

An American finance agency OPIC inked an agreement to provide $ 20 million to a Pakistani company for construction of a modern 28-storey building in Karachi that would house business offices.

The IFC has indicated its agreement to give $ 150 million to bolster small and medium businesses in Pakistan.

The International Finance Corporation has been giving $1 billion dollars annually to Pakistan for energy, agri-business, financial sector and housing.

Meanwhile, China and Saudi Arabia showed interest in investment prospects in energy and infrastructure projects. Pakistan received a total of one billion dollars from the United States last year. It included half a billion dollars under the Kerry Lugar Act.

AFIAK, first thing is first, bring in tax reforms and tax the "evading" Business and Agricultural sectors. Set a tax/GDP target in short,medium and long run and then ruthlessly pursue it. This is something what we should have implemented ourselves rather then forced by IMF. Put some serious austerity in place, only by privatizing ailing PSEs Pakistan can save a staggering 250 Billion PKR (3 Billion USD) , more than US aid given to Pakistan and spend it on infrastructure, improvement of law enforcement and education (divide this equally among three sectors). I bet by doing alone these 3 or 4 things we can propel our economy like anything. Investment will automatically glue to Pakistan in energy sector as untapped demand would work as magnet for investment. Pakistan has immense potential, we can make whole gawadar as export processing zone by allowing different countries to set their industries near a port which would allow quick,efficient and less risky route to rest of the world with trade route opened 24/7/365.

 

[Thor]

Stupid Government of Pakistan..........if they simply looked at the things, abit like what Imran Khan has been saying and see that Oversee Pakistanis abroad are so badly waiting for an opportunity to invest in Pakistan. I being one of those people.

I know of friends and relatives as well as myself who can invest 4-5 millions pounds overnight if the situation, like corruption was improved. Oversee Pakistanis have invested 11 billion dollars over the last year, sort the inhouse problems out and watch what happens. Right now Pakistanis are having to import their goods from India and China, some are going to Bangladesh, what a F***ing insult, those people are desparately ashamed, as am I to do such a thing as Pakistan's industry is in tatters, if they only sorted this out and got on track, oversee Pakistanis, numbering 6 million, and whose GDP alone is that of the whole of Pakistan if only given a chance.

Someone please get Imran Khan in as PM. This old style of politics needs to be gone.........

 

[SHAMK9]

^ikr? Imran Khan is probably the best thing ever happened to Pakistan

 

[SBD-3]

^ikr? Imran Khan is probably the best thing ever happened to Pakistan

The problem with Imran is that
1-He is inflexible
2-He does not have an economic and strategic team (which none of the other parties too, have)
We must understand that one man is not the solution, the system is. Had Imran spent some more time in hunting for good team and developing an infrastructure in PTA, he would have been the best.

 

[farhan_9909]

basha dam=24 hour electricity no loadshedding

 

[SBD-3]

basha dam=24 hour electricity no loadshedding

I afraid no, the production capacity of Basha AFAIK is 2500-3500 MWatt while the shortfall is beyond 7000MWatt

 

[Imran Khan]

nothing is gona happen these comments i read since i was kid .basha dam will finished after 10 years and that time short fall will be 10000mw simply no change.

 

[Jango]

and bhasha dam is going to be completed after 7 years, by that time, who knows how much the demand would increase. We need 5 mega projects simultaneously.

 

[SBD-3]

nothing is gona happen these comments i read since i was kid .basha dam will finished after 10 years and that time short fall will be 10000mw simply no change.

Actually the problem is that such projects are designed with future needs in view. Basha and KB are not new dams, but these were envisaged in 70s with a view that these will be productive before the demand exceeds supply, thus bridging the gap. Don't you remeber Pakistan was producing surplus electricity in early 2000s and we were talking about exporting it. The rule of thumb is that power production should increase by double than the economic growth or 10% whichever is higher. Thanks to politicization of the KBD issue, we lost potential stream of 3500 MWt electricity in the national grid. Governments tried to force the issue rather than creating a national consensus on the issue. Mushi Bhai did not add anything significant to national grid eventhough economy was growing at more than 5% on average. Thats why i stress the need for strong economic teams in political parties, illtrate MNAs can handle the specific economic issues.