Tag Archives: ADB

Pakistan Economy: Sinking Like A Rock, says Asian Development Bank.

Sinking like a rock: Slim chances of recovery for Pakistan’s directionless economy, says ADB

ISLAMABAD: Amid deep-rooted concerns over a “directionless” economy due to failure of the previous government and inability of the caretaker setup to take immediate meaningful steps, the Asian Development Bank has warned that Pakistan’s current growth model is unsustainable that also undermines future prospects.

In its Asian Development Outlook, the Manila-based lending agency has painted an extremely bleak picture of Pakistan’s economy that is “directionless” and immediate recovery chances are almost nil amid a worsening balance of payments position.

“A difficult political situation stalled effective policy response to macroeconomic and structural problems, especially regarding energy, and the end of the government’s 5-year term in mid-March limited political scope for major policy or structural reforms,” it said.

The economic developments in this fiscal year are unfolding along broadly similar lines as previous year, but with “deepening concerns about sustainability and the adequacy of forex reserves”.

A missing link in the ADB’s analysis of political failures is the role of bureaucrats in running the affairs of the government who often do not disclose actual extent of problems to the leadership.

Continue reading Pakistan Economy: Sinking Like A Rock, says Asian Development Bank.

Inability of so called Sindhi MPAs, MNAs, Ministers & Officers!

Thatta Coastal community project at stake

Courtesy: Daily Dawn, 11-8-09

THATTA, Aug 10: The Sindh Coastal Community Development project was at stake due to unnecessary delay in recruitment of staff, Dawn learnt through reliable sources here on Monday. The Asian Development Bank-assisted project of $40 billion was launched in November 2008.

It meant for the uplift and improvement of socio-economic conditions of coastal population of Thatta and Badin districts, incorporating mangroves planting over 3,000 hectares by the government, 200 fish pond development schemes, rehabilitation of three hatcheries, small and medium scale community and government-managed interventions.

The project was to be implemented over a period of six years from 2006 -07 to December 2012. However, unnecessary delay in the recruitment on 109 posts from grade 1 to grade 19 caused to stop the project.

Sources said that at a meeting held on July 10, 2009, the ADB country director made it clear that the project would be cancelled if recruitment was not completed soon. Minister for Economic Division and Finance Hina Rabbani Khar wrote a letter to the Sindh government in the last week of July to take on staff within one month, otherwise the project would be withdrawn and no project would be given to Sindh in future. Reports said the Sindh CM had issued directive to constitute a committee to start recruitment and advertise vacancies in the newspapers, but the bureaucrats were deliberately not complying with the directives.

Ministers, MNAs and MPAs of the two districts were silently watching the tussle between bureaucrats and top politicians of the province.

Continue reading Inability of so called Sindhi MPAs, MNAs, Ministers & Officers!