World Bank cancels aid to Pakistan

[Justin Joseph]

World Bank cancels aid to Pakistan

ISLAMABAD, (Xinhua) -- The World Bank (WB) cancelled technical aid worth 0.75 million dollars to Pakistan because of the delay in projects, local media reported Saturday.

According to the private TV Dawn News, the aid was to be allocated for a project to foster Pakistan's mineral resource sector. However, the government failed to use the aid as no work was done regarding the said project.

The aid was delivered by Japan on behalf of the World Bank. An agreement regarding the project was inked between Pakistan and Japan in June 2007.

The deadline for the project's completion was March 2008. A WB team visited Pakistan in April 2008 to investigate the matter. Pakistan then requested an extension into the deadline, to March 2009.

However, no project was initiated even till March 31, 2009.

World Bank cancels aid to Pakistan

 

[AbuSalam]

World Bank cancels aid to Pakistan

ISLAMABAD, (Xinhua) -- The World Bank (WB) cancelled technical aid worth 0.75 million dollars to Pakistan because of the delay in projects, local media reported Saturday.

According to the private TV Dawn News, the aid was to be allocated for a project to foster Pakistan's mineral resource sector. However, the government failed to use the aid as no work was done regarding the said project.

The aid was delivered by Japan on behalf of the World Bank. An agreement regarding the project was inked between Pakistan and Japan in June 2007.

The deadline for the project's completion was March 2008. A WB team visited Pakistan in April 2008 to investigate the matter. Pakistan then requested an extension into the deadline, to March 2009.

However, no project was initiated even till March 31, 2009.

World Bank cancels aid to Pakistan

or 0.75 BILLION ?

 

[hillman32]

I sincerely pray it is true,

We do not need World Bank or IMF money.

We can live at our own poorly but honourably.

 

[Tiger Prowling]

Best news for a long time. WB.

 

[Awesome]

I sincerely pray it is true,

We do not need World Bank or IMF money.

We can live at our own poorly but honourably.

It's a good thing that the World Bank didn't keep giving this money after it realized the money is going into the Pakistani black hole.

 

[i am your fear]

It's a good thing that the World Bank didn't keep giving this money after it realized the money is going into the Pakistani black hole.

first time i am 100% agree with you i hope USA and china will now understand your view

 

[M8R]

We don't need aid.Just tax the agricultural sector and we will get more then 10 bil in tax.Hell if our tax system was working effectually GOP would easily get 15 billion$+ in taxes.World Bank is fine i think.It's better then IMF.

 

[Areesh]

Cool... Hope they won't turn down their decision.

 

[Optimus]

We don't need aid.Just tax the agricultural sector and we will get more then 10 bil in tax.Hell if our tax system was working effectually GOP would easily get 15 billion$+ in taxes.World Bank is fine i think.It's better then IMF.

Taxing agriculture is a very tough thing to do in countries like our where there are many individuals owning little land compared to that in the Western countries...

@Others : Any other realistic approach for this?

There was a proposal in my state to lease all the small lands to private companies -> Better profits less work for farmers and taxable income for the government.. As you know the motion did not go through

 

[M8R]

Taxing agriculture is a very tough thing to do in countries like our where there are many individuals owning little land compared to that in the Western countries...

@Others : Any other realistic approach for this?

There was a proposal in my state to lease all the small lands to private companies -> Better profits less work for farmers and taxable income for the government.. As you know the motion did not go through

I agree but we can create slab system so people with small land are not taxed heavily and mind you there are people in Pakistan who owns very very big lands and if taxed properly FG can generate a lot of money.

 

[gogbot]

when money is given you lot are un-happy and ashamed

when money is denied , you guys get happy and cheerful.

the time we live in i suppose

but what happens when money is taken away

 

[afriend]

taxing agricultural income would not be a wise idea... as and when we have a situation where there is very less number of people who are keen to do farming...

 

[SpArK]

or 0.75 BILLION ?

Its 7.5 lakh dollars

DAWN.COM | Business | World Bank cancels 7.5 lac dollar aid to Pakistan

 

[tinguzzz]

I sincerely pray it is true,

We do not need World Bank or IMF money.

We can live at our own poorly but honourably.

What ever u r saying is correct.....but it will downturn ur economy...whtever the foreign investor are there in your country will pull back reserves will fell and there will be no money to buy things....such as defense equip....the reason is there is no money to pay to them...So u people i think review ur views...it personal opinion no offense

 

[SpArK]

ISLAMABAD: The World Bank cancelled technical aid worth 7.5 lac dollars to Pakistan. The aid was to be allocated for a project to foster Pakistan’s mineral resource sector. However, the government failed to use the aid as no work was done regarding the said project.

The aid was delivered by Japan on behalf of the World Bank. An agreement regarding the project was inked between Pakistan and Japan in June 2007.

The deadline for the project’s completion was March 2008. A WB team visited Pakistan in April 2008 to investigate the matter. Pakistan then requested an extension into the deadline — to March 2009.

However, no project was initiated even till March 31, 2009. — DawnNews


DAWN.COM | Business | World Bank cancels 7.5 lac dollar aid to Pakistan




Blame the Governance not the donors..