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

By Shahbaz Rana / Creative: Anam Haleem

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.

14 blasts rock Sindh railway track

KARACHI/HYDERABAD: Lengths of railway track were blown up in Bin Qasim, Nawabshah, Hyderabad, and Pud Eidan, Khairpur and Ghotki somewhere before and after dawn stopping the up and down traffic, Geo News reported Saturday.

According to police, two blasts were heard before they found out a sizable part of the main track, going through Long Khan Kairio village area of Nawabshah, has been damaged.

Later, a couple of similar blasts were also reported from Qasimabad area of Hyderabad, where 1-2 feet long rail tracks came off in the wake of explosions. To boot, blasts near Latifabad area also reportedly damaged the rails taking the tally to four in Hyderabad alone that too within hours.

Moreover, culprits, also targeted rails near Pud Eaidan area using the same modus operandi i.e. two IEDs planted close by detonating one after another.

Reports of a similar sabotage also came from Kotri, Ghotki and Bin Qasim.

All the up and down trains have been stopped to safety. Railway sources told that Zakaria and Fareed Express were stopped at Sadiqabad.

Fortunately no passenger/cargo train was anywhere near the blast sites, otherwise major casualties could have been the outcome of these perpetrations.

Police have condoned off the site to launch an investigation as well as search for probable explosive devices or the culprits hiding nearby.

Courtesy: The News

http://www.thenews.com.pk/article-36919-14-blasts-rock-Sindh-railway-track

-/-/-/-/-

More details » Voice of America

http://www.voanews.com/urdu/news/pakistan-rail-blasts-140395433.html#.T0kN7WG9-7o.facebook

Pakistanis dumped between hard rock and deep sea

by Shaheen Sehbai

DUBAI: The Pakistan Army corps commanders have pushed the hapless and helpless Pakistani nation between a rock and a deep ditch. The rock is the Army itself, armed with guns and a lot of arrogance. The ditch is the corrupt sea of vision-less politicians who cannot see beyond their stolen billions and rightly or wrongly have acquired power and perks they will not let go of. …

Read more: The News

via Wichaar

RAAT – MOOMAL RANO

Made on a famous folk tale of Sindh, MOOMAL RANO. Shots in NAU-KOT THARPARKAR, Sindh, Pakistan. SWEET & LOVELY SONG IN SINDHI LANGUAGE. POETRY: SHAIKH AYAZ.

– You Tube

Libya: Violent protests rock city of BenGhazi

Hundreds of people have clashed with police and government supporters in the Libyan city of Benghazi. At least 14 people are said to have been hurt, with witnesses saying police fired rubber bullets and tear gas. The overnight unrest followed the arrest of an outspoken critic of the government, who was reportedly freed later. Pro-democracy protests have recently swept through several Arab nations. The demonstrators have forced the presidents of Tunisia and Egypt from power. However, correspondents say it is unlikely that Libya’s leader Muammar Gaddafi – who has ruled the country since a coup in 1969 – will lose power any time soon. …

Read more : BBC

New corruption scandal deals blow to India’s image

By Paul de Bendern and Jui Chakravorty

NEW DELHI/ MUMBAI (Reuters) – India’s reputation as a place to do business took another hit after the scandal-tainted government charged top public sector bankers with accepting bribes initially estimated at hundreds of millions of dollars.

The scandal is one of the biggest to taint India, potentially harming the image of Asia’s third-largest economy as destination for foreign investors, especially as it comes a few days after Prime Minister Manmohan Singh has had to defend his government in another graft scandal involving telecoms licences sold at rock-bottom prices. …

Read more : Reuters